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Technician, the personal trading and analysis application tool for mobile, tablet and desktop devices, announced the introduction of a new set of analysis tools – the WaveBasis Elliott Wave Power Tools.
WaveBasis is a platform for automatic detection and analysis of Elliott Wave patterns in the financial markets. The new tool would let the Technician users apply wave analysis, while obtaining insights and trading decision support.
The system would be useful both for novice and expert traders. Those with less experience would be able to gain practical knowledge of the Elliott Wave theory, according to which the financial markets work in repetitive cycles, defined by the psychological reactions of the investors. Those cycles can be measured and produce patterns (waves), which can be used to determine the market context and establish a set of probabilities for the future behavior of the market. The experienced traders would be able to use the automated, the manual and the smart tools of the system to produce wave counts and accelerate their workflow.
The set also contains a drawing tool for Elliott Waves with a number of features and settings.
There is a 14-day free trial of WaveBasis. It is priced at $169 a month, but currently there is a limited time offer for $109.
The Technician app was launched in July 2015 by the ChartIQ software company, specializing in charting and data visualization solutions for capital markets. It offers professional grade HTML5 charts and technical analysis tools for traders. The app is available as a web application for desktop and laptop computers, iOS mobile devices and Android devices. It offers more than 80 indicators, charts and drawing tools and real time US equity and forex data.
In the beginning of February Technician announced the integration with the Tradable trading platform.