The Fibonacci Retracement Tool: Tutorial (New Text Feature)

Our Fibonacci Retracement tool now comes with a special text feature. Also, in this comprehensive tutorial, learn how to effectively use the Fibonacci Retracement tool. We'll guide you through the basics, demonstrating step-by-step how to apply the Fibonacci levels and interpret their significance in the market.

The Fibonacci Retracement tool is based on Fibonacci ratios, which are derived from the mathematical sequence where each number is the sum of the two preceding ones (0, 1, 1, 2, 3, 5, 8, 13, etc.). These ratios—namely 23.6%, 38.2%, 50%, 61.8%, and 100%—are crucial in identifying potential levels of support and resistance.

During the tutorial, you'll learn how to add text annotations to clarify your analysis and adjust the tool to your exact needs.

#tradingview

[mathewmacpherson]

Been using TV for three years now and I learnt something new about the Fib tool on this video. Thanks very much

[dybo]

One minor change is needed for this neat feature. The ability to save the text on the fib as a template. We're likely to be using the same text so it makes no sense to have to input it every time.

[eingelvf]

fibonacci levels in log scale or regular?
my charts always in log scale

[Rightgroup]

Thanks for the informative video

How can I have confidence in it though if you remove the Dynamic Dom Mode?

You have made a world class platform

When will it be reinstated?

What is next to be removed?

Please respond

[esdohl]

Please make the text saveable/permanent so we don't need to rewrite it

[putusukmana]

how to reset fibonaci tool to default setting??

[netjac]

Nice but Fibonacci levels are essentially arbitrary horizontal lines on a chart. Their perceived significance comes from the self-fulfilling prophecy of many traders watching and reacting to the same levels

[MaatradersAyodhiya]

Har ek line ko mota patna karne ka bhi future de do