Manually drawing wave patterns in WaveBasis is as simple as drawing anything else in WaveBasis, and easier and more flexible than in any other Elliott Wave software.
WaveBasis adds some unique features that make the process particularly wave analyst-focused and intuitive. The tools anticipate your needs in important ways to accelerate your analysis, to help you get to a trading decision efficiently. Spend less time messing around with tools, and more time focusing on trading.
The smart wave drawing tools are located in the upper left toolbar in the workspace, which looks like the toolbar on the left.
NOTE: all Smart Tools work the same way with manually drawn waves as they do with waves created by an automatic wave count.
Automatic wave stacking
Stacking waves automatically is a unique workflow-accelerating aspect of drawing waves with WaveBasis. By default, whenever you draw waves that overlap or are nested at multiple degrees, wave labels will be automatically stacked in the correct order. Higher degree waves will be stacked further from the price bars.
The is a real time-saver, automatically keeping your chart organized, and is one of our most popular features. It also allows you to effortlessly create professional-looking charts.
You can change this behavior by choosing a different drawing mode.
Automatic wave degrees
We’ve taken automatic wave stacking one step further by including automatic wave degree management. What this means is that when you manually draw wave patterns, you don’t have to decide which degree to assign to them – WaveBasis handles this for you.
This is another true time-saver that streamlines the process of manually applying Elliott Wave analysis. It allows you to focus on your analysis of the wave patterns themselves, without having to continually shift your focus between disparate tools.
Automatic wave degree management is an optional feature that can be enabled/disabled in the Application Preferences.