A holographic projection system with an optical wave tracking system sets the propagation direction of a modulated wave uses a position control system and an eye finder. It provides an adjustable optical wave correction system which compensates for deformations of the wave which are dependent on the current eye position. Largely dynamic changes and deformations in the form structure of the modulated and conditioned wave are reduced, which result from changes in the propagation direction of the aligned, optically enlarged and modulated wave on a focusing display screen. The optical wave correction system includes adjustable wave form means and computer means which set the optical behavior of the wave form means using the positional data from the current eye position. The adjustable wave form means are located in the light path between an illuminating system for the spatial light modulation means and the display screen of the projection system.