V.18:9 (90-93):Product Review:ELWAVE 6.0

V.18:9 (90-93):Product Review:ELWAVE 6.0
Item# \V18\C14\166PR.PDF
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Product Description


by Jayanthi Gopalakrishnan

PROGNOSIS SOFTWARE DEVELOPMENT PO Box 2944 2601 CX Delft The Netherlands Phone: +31-15-2123543 Fax: +31-15-2132558 E-mail: info@prognosis.nl Internet: http://www.prognosis.nl Product: End-of-day or real-time Elliott wave analysis and projection software. Equipment requirements: Windows 95/98/2000 or NT 3.51 or higher, 16 MB RAM, 50-to 100-MB hard disk space, 1024 x 768 screen resolution, data in MetaStock or ASCII file format or other supported formats. Price: Elwave Basic (end-of-day), $245; upgrade to intraday module, $300; upgrade to automatic, $450; upgrade to trading signals module, $300; upgrade to target clusters module, $250. Scanning module, $450.

Elliott wave analysis has always been associated with complexity and reserved only for technical analysis experts. Wave patterns have been found to be useful in predicting trend reversals, but unfortunately, attempting to manually identify the various waves is a tedious task often leading to erroneous conclusions.

The purpose of ELWAVE 6.0 is to eliminate the need to count these wave patterns manually by completely automating the entire process. It is a complete Elliott wave analysis program that analyzes wave degrees, generates a list of alternatives, summarizes the results of specific patterns,displays probable targets based on Fibonacci ratios, and displays the expected path of price action. Various modules of the product are available. These include the basic, intraday, automatic, trading signals, and target clusters module.

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