The new Expert Advisor is one of the highlight in version 7.1. elw) that can contain analysis results, indicators and indicator panes, manually placed objects such as trend lines or a manual Elliott Wave analysis.ĮLWAVE can be instructed to automatically analyze newly opened blank charts A report can be generated and printed with vital information on the performance.ĮLWAVE can now automatically create, maintain and restore so ELWAVE chart files (extension. The Batch Processor, which can be used to analyze a long list of charts overnight also respects any indicators present in the chart and leaves these untouched.ĮLWAVE 7.0 introduced a 'Simulation Inspector' which can be used to evaluate the performance of a specific strategy by entering buys and sells at specific moments. Templates are also new in version 7.1 and allow the user to specify any set of indicators and indicator panes and charting style to be applied to any newly loaded chart. For example, to load a 5-minute chart of Microsoft one would type 'msft,5'.
The Quick Symbol Entry toolbar allows the user to simply start typing (part of) a symbol (without having to even use the mouse first) to load a new chart. The engine itself also profits from this and is now even better at distinguishing waves and patterns from different magnitude, resulting in clearer and more consistent signals and values in the Summary Inspector. The new version correctly identifies the magnitude of the waves and patterns found so the terms used reflect what is used in literature for waves of a specific magnitude. This results in a correct but 'relative' analysis. level, regardless of the actual magnitude. Previous version of the software (prior to 7.0) would always start labeling at the Cycle, Primary etc. Time frames in Elliott Wave theory correspond to magnitudes of waves.
ELWAVE has always done an analysis on multiple timeframes, thereby greatly increasing the usefulness and also the accuracy of the analysis.
The most important change is that wave degrees are now 'calibrated'. The analysis engine in ELWAVE 7.0 has been upgraded compared to previous version. Let us run through some of those improvements for you, some of which were already available in ELWAVE 7.0:: ELWAVE 7.1 is another step forward in the development of one of the world's best Elliott Wave program.
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