Elliott Wave Analysis Software: Wavebasis.com Review
WaveBasis provides automatic tools for Elliott Wave counting. If you have ever searched for any product relating to Elliott Wave analysis, chances are that you’ve bumped into this website. The developer is providing 3 paid plans as well as a free plan for those who love Elliott Wave analysis but are not trading quite frequently or performing multiple counts at any given day. Also, the free plans is supposedly ideal to traders who want amazing web-chart experience. I don’t know how different this is when we compare it with a charting platform like Tradingview for example.
The company that manufactures these tools is based on this physical address WaveBasis, LLC 228 Park Ave S #23237, New York, NY 10003 and if you want to contact support, you can reach them on [email protected]
This product is allegedly for newbies and experienced traders alike. They want traders to believe that Wave Basis charting tools have been built from the ground up to accommodate traders of all levels.
My thinking is that if you are not a fun of Elliott Wave analysis, you might find this platform quite tedious for you. My advice is to take advantage of automated trading tools that perform analysis on your behalf. You only need to install any of these trading tools onto your MT4 and everything will start to work perfectly.
Alternatively, you can decide to invest in Cryptocurrencies and let the professionals manage your investment account. If you have 0.1 BTC, you can place a deposit by purchasing one of the plans. That way, investing will start right away and you won’t have to worry about Elliott wave analysis anymore. Returns are as high as 25% a month.
Having said this, my focus is in analyzing WaveBasis charting tools to determine whether or not its worth upgrading to any of their paid plans. But if you think Price action is the best way to trade Forex, invest in this trading course. I am so much attached to price action trading because of the simplicity it offers and I don’t even think Elliott waves analysis or any other style of analyzing charts will ever kill it for me.
They claim that this platform puts unprecedented power in the hands of both new and experienced traders. They claim to be using a unique kind of technology which makes analysis and forecasting natural and efficient as possible.
The product seems to appeal to newbies who want to increase their knowledge of Elliott wave analysis because they claim the charts are intuitive, objective, interactive while retaining advanced features.
To paint a visual picture of how these charts look like, Wave Basis claims that these are drag and drop charts with amazing flexibility. The company WaveBasis is also claiming to define a new standard for web based charting and technical analysis.
The team have shared a few screenshots showing us the charts and features that we can expect from this product.
Some of the features touted by Wave Basis include the following:
1.High speed Elliott Wave analysis
2. World Class charts
3. Over 100 indicators and 35 plus drawing tools
4. Unique insights into Elliott wave analysis to enable traders make better decisions
Wave Basis plans
There are 3 premium plans offered by WaveBasis team. These plans cost $49 per month, $169 per month and $399 per month respectively. And of course there is also a free plan.
It’s important to note that all paid plans begin with 14 day free trial with no credit card details required in order to subscribe.
I am interested in the features of the various plans which make them differ in terms of pricing. The first plan is cheaper than the other two because Wave Basis is restricting monthly wave count at 250.
You get 6 simultaneous charts, 3 work space tabs, limited smart tools and basic gadgets. WaveBasis claims that this basic plan gives traders an edge through power and flexibility. In addition to this, the company says that this plan gives access to the best Elliott wave counts, charts and technical analysis features. However, advanced automation features are missing with this plan.
The second and third plans provide access to more wave count but no additional unique features have been included. The only thing that’s different is that with the plan that costs $399 per month for example, you get unlimited access to all the features provided by Wave Basis Platform.
Should you use Wave Basis Elliott wave analysis software?
It’s good that they are providing free access to enable the trading community test the quality of the features touted on their website.
However, there are not any customer feedback on the internet regarding the quality of service provided by this company. It’s also quite strange that despite the website wavebasis.com receiving substantial traffic from countries like India and Israel (and most visitors arriving here after searching Google or visiting Investing.com), there are no reviews or testimonials at all.
This will therefore serve as a good opportunity for those who have used this service to air their views and opinion. I also suspect that not a good number of traders are using Elliott wave analysis tools or software to make their trading decisions. But there is definitely huge interest in price action trading which is why sites like Price action ltd are continuing to receive traffic but are lacking in terms of the quality of products or service which they sell.
If you want to learn price action trading, the best way to go about it is to purchase this trading course which also covers how to trade Cryptocurrencies like a pro.
Wave Basis seems to be offering a good product for those who are looking for Elliott wave analysis software. But don’t think for a second that Wavebasis is offering some kind of silver bullet for your trading.
If you have read this review of the WaveBasis Elliot wave analysis software and platform and are still determined to try it, go with the free plan first and see how it works and whether its a good fit. If you find that it’s a tedious method of trading, I implore you to take advantage of these automated trading resources (Expert Advisors etc). You’ll thank me later.