It's like 1-second Elliott Wave counting, based on the Bill Williams' famous approach to using the Awesome Oscillator. eWavesHarmonics labels an impulsive wave with a 3; a corrective wave with a 4; another impulsive wave with divergence with a 5. With this approach, we can quickly spot clear corrective waves and look to buy the dips/sell the rallies.
What about Elliott Waves 1 & 2? This is where some simple multi-timeframe analysis comes in. For example, an eWH Wave 3 on the M15 chart, could well be the Elliott Wave 1 on the H1 chart - using that knowledge can enable very early entries on new motive waves, for maximum profitability.
eWavesHarmonics will continuously search for Harmonic patterns, using an easily-congifurable CSV file with all the pattern definitions. Alternatively, you can create your own custom patterns, directly from the chart. In 'Test Mode' you can auto-scroll through the chart history, to see where the patterns occur and how they work to influence the direction of price..