The Fibonacci Retracement Tool: Tutorial (New Text Feature)

Опубликовано: 17 Июнь 2024
на канале: TradingView

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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.

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