1. Home
  2. Docs
  3. Frequently Asked Questions
  4. How does monthly wave count usage work?

How does monthly wave count usage work?

Automatic wave counts

Each of our subscription plans allows you to calculate a certain number of automatic wave counts during a given calendar month. You can see the number of monthly wave counts included with each plan on our pricing page. Each time you apply one of the various methods used to calculate automatic wave counts, it counts toward your subscription plan’s monthly wave count usage.

Wave scans

When you run a scan with the Wave Scanner, it can also count toward your wave count usage. It’s possible that each symbol included in a scan can count as one wave count, however, we understand that sometimes scans don’t produce results depending on your filter settings and the setups you’re scanning for. So, if you don’t get any results from a scan then the scan won’t count toward your wave count usage.

So, running a scan will only count toward your wave count usage when the scan produces results. Each scan result will count toward your usage as one wave count.

NOTE: If your scans are not returning results your filter settings might need some adjustments, so learn how to get the best results with the wave scanner.

Wave count usage reset

Wave count usage automatically resets at the end of each calendar month regardless of your billing cycle.

NOTE: You can always check how many wave counts you’ve computed during a particular month by visiting the account management window from the main menu in the upper left corner of your workspace.

Wave count usage guidelines

It’s important to note that we’ve found that the summaries mentioned on our pricing page are quite appropriate in describing each type of trader, so you can use that as a guide when deciding which plan most suits your particular needs.

Most importantly, however, we’ve also found that the wave count allowances are typically more than ample at each plan level. A traditional Elliott Wave practitioner would typically assess a tiny fraction of the number of wave counts available with our plans in a given month, for example.

Our mission is to expand your analysis capabilities, encourage Elliott Wave best practices, and improve your trading profitability, not arbitrarily restrict your use of the WaveBasis platform. And, we’ve found that a more deliberate approach that requires running fewer automatic wave counts tends to lead to more effective analysis for a majority of traders.

Also, initially, you’re likely to run many wave counts as you evaluate and get more familiar with the platform. However, over time you’ll most likely find that you’ll need to compute fewer wave counts to meet your day-to-day trading objectives.


TIP: Consider our suggestions for how to use your wave counts efficiently.

Was this article helpful? Yes 18 No 6

How can we help?