The Fibonacci Fan is one of the tools for technical analysis based on the use of Fibonacci levels. It got its name due to the unique characteristics of its construction: three lines emerging from one point and passing through three key levels.
The Fibonacci fan is used to identify potential support and resistance levels or potential reversal zones.
Enabled on the Drawing toolbar with the button Fibonacci Fan.
Fibonacci Fan settings
Custom Levels
Name | Description |
Enable | This option enables / disables the display of its set levels. |
Levels
In this section, you can add your own levels or delete ones that are not necessary. Each level can be customized individually.
Name | Description |
Show Line | This option enables / disables the display of this level. |
Value | Sets the value at which the level will be positioned. |
Line Color | Sets the level line color. |
Line Width | Sets the width of the level lines. |
Line Style | Sets the level line display style: solid, dashes, point, dash-point, dash-two points. |
Line
Name | Description |
Line Color | Sets the line color. |
Line Width | Sets the line width. |
Line Style | Sets the line display style: solid, dashes, point, dash-point, dash-two points. |
Object
Name | Description |
Visibility | Sets the parameter on which the Fibonacci Fan wave will be displayed. |
Position | Display of a Fibonacci Fan wave above or below the chart. |
Control Points
Name | Description |
Coordinates | Ability to manually set the coordinates of points on the time and price scales. |
Lock | The option enables a position on the chart to be locked. |