Fibonacci Retracement (Alt + F)
Fibonacci Retracement is a powerful technical analysis tool that helps identify potential support and resistance levels during price corrections. These levels are based on key ratios derived from the Fibonacci sequence.How to Use
- Select the Fibonacci Retracement tool (Alt + F)
- Click at the starting point of the trend (first extreme point)
- Drag to the second extreme point and click to complete
- For uptrends: Start at low, drag to high
- For downtrends: Start at high, drag to low
Key Fibonacci Levels
The tool automatically creates horizontal lines at key percentage levels:- 0% (start of the measured move)
- 23.6%
- 38.2%
- 50% (not actually a Fibonacci ratio but widely used)
- 61.8%
- 78.6%
- 100% (end of the measured move)
Practical Applications
- Identify potential reversal zones during retracements
- Set strategic entry points after pullbacks
- Place stop-loss orders below/above key levels
- Determine price targets for trades
- Confirm support/resistance with other indicators
Customization Options
Trend Line Settings
- Toggle trend line visibility
- Change line color and opacity
- Adjust line thickness
Level Line Settings
- Modify line thickness and style
- Add custom levels (click “Add level” at bottom of level list)
- Remove unwanted levels
Background Options
- Enable/disable background fill between levels
- Adjust background opacity
Display Options
- Reverse: Flip the retracement vertically
- Prices: Show price values next to each level
- Levels: Toggle visibility of level percentages
- Labels: Position level values along the line
- Font size: Adjust text size
Precise Positioning
Fine-tune placement using the Coordinates properties:- Price 1: Set exact position of first point (bar number and price)
- Price 2: Set exact position of second point (bar number and price)
Fibonacci Extension (Alt + Shift + F)
Fibonacci Extension helps identify potential price targets beyond the original trend. It’s particularly useful for setting profit targets and identifying possible reversal zones after a retracement has completed.How to Use
- Select the Fibonacci Extension tool (Alt + Shift + F)
- Click to place the first point at the beginning of the move
- Click to place the second point at the end of the initial move
- Click to place the third point at the end of the retracement
- The extensions will project beyond the second point
Key Extension Levels
Common extension levels include:- 100% (the length of the original move)
- 127.2%
- 138.2%
- 161.8%
- 200%
- 261.8%
Practical Applications
- Project potential price targets beyond previous highs/lows
- Identify possible reversal points after strong trends
- Set profit-taking levels for trend-following trades
- Plan position sizing based on risk/reward at extension levels
- Confirm price objectives from other technical methods
Customization Options
The Fibonacci Extension tool offers the same customization options as the Retracement tool:- Line appearance settings
- Level configuration
- Background options
- Text display preferences
Precise Positioning
The Coordinates properties allow exact placement of all three points:- Price 1: First point of the move (starting point)
- Price 2: Second point of the move (end of initial move)
- Price 3: Third point (end of retracement)
Fibonacci Speed Resistance Fan
Projects diagonal lines from key pivots using Fibonacci ratios to map dynamic support/resistance and trend strength.How to Use
- Choose Fibonacci Speed Resistance Fan in the drawing toolbar.
- Click the anchor at a major swing (low for uptrends, high for downtrends).
- Drag to the opposite pivot to set the 0→1 base; rays render automatically.
- Reposition either handle to refine anchors; the fan updates live.
Key Fibonacci Levels
- Defaults: 0, 0.236, 0.382, 0.5, 0.618, 0.786, 1.
- Each ray = a slope that often acts as dynamic S/R.
Practical Applications
- Trend strength: Holding above 0.382/0.5 = strong; testing 0.618/0.786 = weakening.
- Pullback entries: Buy reactions to rising rays; sell rallies to falling rays.
- Confluence: Pair with RSI/MACD or MAs for timed entries/exits.
- Targets/Stops: Next ray as a target; stop just beyond the broken ray.
Customization Options
- Open the tool panel: Style → Levels / Parameters.
- Save setups via Templates; revert with Reset settings.
Trend Line Settings
- Reverse: Flip orientation for opposite trend context.
- Grid: Optional helper grid for visual alignment.
- Levels Line: Global thickness and color mode (single color or per-level palette).
Level Line Settings
- Levels tab:
- Add/remove levels; set exact ratios.
- Reorder with ▲▼; delete via trash icon.
- Toggle Left / Right / Top Labels for ratio text.
Background Options
- Background: Fill sectors between rays.
- Toggle visibility.
- Choose color or gradient for faster zone recognition.
Display Options
- Templates: Store your fan style/levels.
- Reset settings: Return to defaults.
Precise Positioning
- Zoom in; place anchors on wick extremes.
- Use magnet/snap (if enabled) for bar highs/lows.
- For new impulses, re-anchor the 0→1 base to the latest impulse + retrace.
Fibonacci Time Zone
Plots vertical lines at Fibonacci intervals to highlight time windows where pivots or accelerations are more likely.How to Use
- Choose Fibonacci Time Zone.
- Click the origin bar (key pivot).
- Drag horizontally to define the base span (0→1); verticals plot at Fib numbers of that span.
Key Fibonacci Levels
- Defaults: 0, 1, 2, 3, 5, 8, 13, 21, 34…
- Use them as time windows for potential turns or breakouts.
Practical Applications
- Timing pivots: Watch price behavior as a zone approaches.
- Event mapping: Place earnings/FOMC within zones for time confluence.
- Pair with price tools: Combine with Fib Fan or Retracements to align when and where.
Customization Options
- Open Style → Levels / Parameters.
- Save sequences/colors via Templates; reset anytime.
Trend Line Settings
- Levels Line: Global thickness and color for all verticals.
- (No diagonal rays; this tool is time-only.)
Level Line Settings
- Levels tab:
- Enable/disable specific Fibonacci numbers.
- Assign per-level colors (e.g., emphasize 8/13/21).
- Add more levels to extend the sequence.
Background Options
- Background: Shade areas between verticals.
- Toggle visibility and set fill opacity/color.
Display Options
- Templates: Save your configuration.
- Reset settings: Restore defaults.
Precise Positioning
- Set 0 on the bar that starts the move.
- Place 1 on a meaningful subsequent pivot to match market rhythm.
- Zoom in; verticals snap to whole bars for consistent timing.