Fibonacci Tools
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.
Gann Tools
Gann tools read price against time. Where a Fibonacci retracement divides a move by ratio alone, a Gann drawing fixes a relationship between how far price travels and how long it takes to get there, then projects it forward as a grid, as arcs, or as angles. All three share a flyout with the Fibonacci tools on the drawing toolbar.Gann Box
Frames a move in a rectangle and divides it in both directions at once — across price and across time. A level that holds inside the box is proportional in both dimensions, not just in price.How to Use
- Select the Gann Box from the Fibonacci flyout on the drawing toolbar
- Click the chart to set the first corner
- Drag to the opposite corner and click to place the box
Key Levels
Price and time are divided separately, each by its own list of seven levels. Both default to the same ratios:
Each level carries its own colour, line style and visibility, and its value can be edited — so the price divisions and the time divisions do not have to match.
Practical Applications
- Read a retracement that stalls on a level as proportional in both price and time, not price alone
- Compare how far a move has travelled against how long it has taken
- Use the diagonals as the balanced path across the framed move
Customization Options
Precise Positioning
Coordinates holds both corners as exact values — Corner 1 and Corner 2, each with a UTC timestamp and a price — so a box can be placed on exact figures rather than by eye.Gann Square
Anchors a grid to a move and overlays it with fan lines and arcs radiating from the corner. Price advancing along the1x1 is moving in balance with time; the arcs measure the same relationship as distance from the anchor rather than as a slope.
How to Use
- Select the Gann Square from the Fibonacci flyout
- Click the chart to set the first corner
- Drag to the opposite corner and click to place the square
Scale and the 1x1
The square rests on one number: how much price counts as one bar of time. That is the 1x1, the angle where price and time advance in step, and every other angle is a multiple of it.Grid Divisions
Divisions switches the grid between two schemes — 0–5 and 8ths + 3rds. On 0–5 the levels run0, 0.2, 0.4, 0.6, 0.8, 1, each with its own colour, line style and visibility.
Fan Lines and Arcs
The square carries a fuller set of angles than the Fan does:8x1 · 5x1 · 4x1 · 3x1 · 2x1 · 1x1 · 1x2 · 1x3 · 1x4 · 1x5 · 1x8
Most are hidden by default — only 2x1, 1x1 and 1x2 are drawn, which keeps the square readable — and any of them can be switched on individually. The Arcs below them work the same way, with Arcs Background, % controlling their fill.
Customization Options
Precise Positioning
Coordinates holds Corner 1 and Corner 2 as exact values, each with a UTC timestamp and a price.Gann Fan
Projects angles from a single pivot. As price moves away from it, the line it is riding tells you the pace the trend is keeping; losing one and settling onto the next is the signal the tool is read for.How to Use
- Select the Gann Fan from the Fibonacci flyout
- Click the chart to set the pivot — the point every angle radiates from
- Move the cursor to set the
1x1slope and click to place the fan
Scale and the 1x1
The fan is anchored by two points rather than two corners: the pivot, and the 1x1 point that sets the balanced slope. Every other line follows from it.Key Lines
1x8 · 1x4 · 1x3 · 1x2 · 1x1 · 2x1 · 3x1 · 4x1 · 8x1
The 1x1 sits in the middle. Lines above it — 2x1 through 8x1 — are steeper, and the ones below are shallower. Each has its own colour, style and visibility.