Together with the Trading Signals module, the Automatic module
is the pulsing heart of the software. It does exactly what
you would like it to do. It analyzes the price data fully
automatically according to the Elliott Wave Principle, so
you are not hindered by the complexity of this methodology.
On the contrary, now you have the opportunity to use its
power for your trading or longer term investments.
Watch the software research every combination of waves to
find the best outcome! It is fascinating...
Together with the Trading Signals module the software will
present crystal-clear forecasts in the so called Summary Inspector!
In general ELWAVE is regarded as the best Elliott
engine available on the market. Why ? Because of its analysis
accuracy, detail and speed. And above all, its clear presentation
of signals on multiple time frames. Short term or longer term,
depending on the time frame you are looking at.
For expert users it is possible to analyze every wave in
the chart even deeper step by step, but probably you will
not need this option.You may also use your own count as a
starting point for automatic analysis or have ELWAVE analyze
a specific section of the chart. What's more, it is the only
Elliott Wave software that tells you exactly why a particular
wave count is preferred, comparing scores of alternatives
and showing all rules and guidelines that apply.
It comes with 2 different sets of rules, Modern and Classic.
The Classic rules define the patterns the way Elliott himself
did, while the Modern rules incorporate the latest extensive
research and newly found patterns, but still based on the
rock solid foundation as defined by Elliott.
Another important difference is that the Modern rules generate
more agressive signals. They already warn you in a retrace
of wave 2 that a trading opportunity arises!