ELWAVE plug-in for Metastock

• Easy does it
  Already the version 7.5, improved analysis engine has been used. The Metastock add-on targets simplicity, high quality wave count and ease of use. In a straightforward way, no hassle, you can select a chart and have it analyzed for the most preferred Elliott Wave count. It can be downloaded from the internet with a few clicks and no additional protection devices nor manuals need to be shipped. Ofcourse you need to have Metastock installed first.
• features–labeling of waves
  The engine analyzes the waves using the Classic rules of the Elliott Wave as defined by Prechter in his book “Elliott Wave theory”. The best, preferred count will be shown on the price data of a Metastock chart, after ELWAVE has researched 1000’s of combinations. See the example below:
  Click to enlargeExample: NASDAQ-Chart, analyzed on October 27th 2004 (Close 1.480).
• features–Expert Advisor
  In addition to the first step, labeling the waves in the chart, you can ask the Expert Advisor for a crystal clear interpretation of the analysis. This will be explained in plain natural language, now avaialble in English, German and Dutch. First a conclusion will be presented with below a more detailed explanation. See the example below:
  Click to enlargeExample: NASDAQ-Chart with Expert Commentary, analyzed on October 27th 2004 (Close 1.480), showing 3 consecutive uptrends, which gives a clear BUY advice with price-targets of 1522 (short-term) to 1538 (medium term).
• features–Summary Inspector
  Additional to the Expert Advisor the Summary Inspector is shown in the same window as the Expert. It clearly shows the consecutive wave degrees or patterns in patterns and most importantly, if every wave degree supports the same price direction. One of the nice things it includes is its clear targets for every wave degree, which are based on Fibonacci. This is the most certain, high probability target, which will be reached most of the time. Please see chart above at the bottom of the left window.

But what’s the difference?

Here’s a comparison table of the features of ELWAVE stand-alone vs. ELWAVE Add-on for MetaStock