Introduced and developed in the 1930s, Elliott Wave theory is a type of technical analysis. The core goal of this theory is to understand the flow of price action and market psychology. It searches for similar patterns of price movements to predict further changes. This theory has survived throughout all these years and has stayed relevant even today. With further advancements in technology companies started developing special Elliott Wave software.
Benefits of Elliott Wave Softwares
Elliott Wave theory consists of different patterns, one of them, in particular, is that the corrective pattern is just too complex for a beginner trader to understand. This is when the software comes into play, most of the experienced traders always suggest using specialized platforms for Elliott wave trading due to the capabilities they hold. These platforms have advanced EW charting functionality, special indicators that are key in the whole process of Eliott Wave trading, such as Fibonacci, RSI, and MACD. On top of that, all these capabilities are put in a much more simple and understandable interface that makes the trading experience go smoother.
Elite CurrenSea’s sugesstion
Elite CurrenSea (ECS) is an award-winning company that focuses on the Education side of trading, opens numerous possibilities to beginner and professional investors, and takes part in developing a trading software of the future as well. It’s worth noting that ECS has a huge informational debase on relevant trading topics. It doesn’t come as a surprise that finding the best Elliot Wave software isn’t an easy task, but according to some findings and statistics, SWAT( Simple Wave Analysis and Trading) is one of the most convenient options for beginner traders who are willing to build a long position with Elliot Wave.
SWAT offers one of the most reliable sources for Eliott Wave analysis. With lifetime access to exclusive indicators and strategy templates, traders are able to track the markets while simultaneously conducting different analyses.
Learn more about SWAT
ECS takes great passion in education, hence it was natural that they have introduced a special SWAT Guide Book that takes a deep dive into what Elliott Wave analysis entails. Even though All of this software is making it really easy for traders to do their jobs properly, it is recommended for everyone to know at least the basics to better apply it to the real-life world. SWAT is operating on MetaTrader 4, which offers immense flexibility and caters to different types of traders. The book also explains all of the MT4 tools and each of the indicators that we have mentioned above, in detail.
No matter if you are starting out with Elliot Wave or already have some experience, getting perspective from professionals will benefit everyone. SWAT book includes a total of 8 hours of educational material with special helpful tips from Chris Svorcik.
