Fibonacci

Fibonacci Retracement lines are channel lines formed using integers in the "infinite sequence," that is, the first two terms are added, and all subsequent terms are the sum of the preceding two terms, i.e., 1, 2, 3, 5, 8, 13...

Fibonacci Retracement lines are based on the work of Leonardo Fibonacci, a thirteenth century Italian mathematician.

To draw Fibonacci Retracements, display the Fibonnaci Options dialog and set the Predefined field to Fibonacci. Then, follow these steps:

To display Fibonacci Retracements, follow these steps:

Select a trend line.
Click , or choose Fibonacci from the Trend Line Functions menu.
Left Click on a significant price.

Trend lines are drawn between the selected trend line and the significant price.

Retracements are drawn according to the options checked in the Fibonnaci Options dialog.