Fibonacci tools

Fibonacci tools help a trader to analyze trends in the price chart and predict the next price. When the price goes up, Fibonacci tools act as resistance levels, and vice-versa. In TraderEvolution platform the following tools are represented:

• Fibonacci retracement – retracement and price goals;

• Fibonacci expansion – estimating support and resistance levels;

• Fibonacci fans – places Fibonacci angles;

• Fibonacci phi-channel – places Fibonacci levels on a trend line;

• Fibonacci time goal – places time goals.

Preferences

The following sections are available in the Preferences menu: Appearance, Points, Fibonacci.

Fibonacci tab allows to add, delete Fibonacci levels, edit their values and to set up the font, font color and width of a line of a drawing which will be colored after reaching the value which you set: