Fibonacci tools
Last updated
Last updated
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 arc – places arcs with Fibonacci levels;
Fibonacci ellipses – identifies underlying structure of price movements;
Fibonacci spiral – places a spiral with Fibonacci levels as steps;
Fibonacci fans – places Fibonacci angles;
Fibonacci phi-Channel – places Fibonacci levels on a trend line;
Fibonacci time goal analysis – places time goals;
Fibonacci time zone – measures Fibonacci periods.
The following sections are available in the Settings menu: Appearance, Points, Visibility, 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:
