The Smart Tools can greatly accelerate your wave analysis workflow, by making commonly used tools and drawings instantly available on charts, without the need to use any other tools or drawings. The Tools are activated by hovering over waves in a chart, and they’re Smart because they are always aware of the Elliott Wave pattern context in which they are being activated. They anticipate the analysis “question” you’re asking, and enhance the chart in the appropriate way.
From displaying the highest probability target resistance range for a wave 3 by hovering over a wave 2, to automatically displaying the fibonacci retracement levels for a potential wave 2 by hovering over a wave 1, the Smart Tools allow you to complete a more comprehensive analysis in far less time. They also remove the tedium and repetition from inspecting and annotating an Elliott Wave count.
Gathering key trading decision support information about wave counts is far more streamlined, objective, and precise than using traditional chart analysis tools.
IMPORTANT NOTE: None of the WaveBasis Smart Tools use any kind of “lookahead” of any kind. All forward-looking projections or levels are calculated in the same way they would if they had been calculated during the normal course of trading. No cheating!
Smart Tools can each be enabled or disabled independently by opening the Wave Enhancements menu from the left toolbar as shown below:
Learn about each of the Smart Tools in the following sections.