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How is WaveBasis different?

Unlike other tools that have made attempts to automate Elliott Wave analysis (and many manual practitioners), WaveBasis understands that there is always more than one possible valid wave count for a given market time period. Depending on the market and time period, the number of valid counts and their variations can number in the tens, hundreds, or even thousands.

  • This fact has lead us to devise a technology that, rather than trying to find a single wave count that “fits”, the WaveBasis engine offers insight that takes into consideration all of the highest probability wave counts.
  • This approach helps achieve a level of objectivity and comprehensiveness that is unprecedented, which makes it possible to assess the relative merits of individual wave counts, and to allow the best candidates to rise to the top.

It’s like asking every Elliott Wave expert in the world to produce a count for you, then having the time to sift through them all to find the ones with the highest statistical likelihood of describing the context and directional bias that a market finds itself in. WaveBasis does this and more in seconds.

And we think it’s just fun to use!

 

WaveBasis follows the rules

One of the most difficult aspects of applying the Elliott Wave methodology by hand is remembering all of the rules and guidelines that relate to each of the Elliott Wave patterns. Other automated tools either fail to apply the rules correctly, often producing invalid wave counts, or ignore the rules completely by doing things like substituting moving average crossovers as a proxy for true pattern detection.

  • WaveBasis takes no shortcuts, and respects the essential rules that R.N. Elliott established when he originally devised the methodology.
  • The automatic wave counts that WaveBasis produces come from precisely detecting actual matching patterns in price data, following the rules.
  • WaveBasis understands the fractal (self-repeating) nature of Elliott Wave patterns, and works within this framework this to identify rule-adherent patterns at all time scales and wave degrees.

 

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