Fibonacci Fan

Fibonacci Fan is displayed by drawing a trendline between two reference or extreme points on the chart (usually a trough and opposing peak). Next, an invisible vertical line is drawn through the second reference point. Three trendlines are then drawn from the first extreme point so they pass through the invisible vertical line at the Fibonacci levels of 38.2%, 50.0%, and 61.8%.

Fibonacci Fan lines use Fibonacci percentages to divide a time-price range defined by two reference points.

The first reference point defines the starting-limit-price-and-time and is the point from which the fan extends. The time-price range is determined relative to a second point that defines the ending-limit-price-and-time. The intermediate angles of the fan conform to the Fibonacci percentages.

When the fan is drawn, two "grab bars" are placed where the control line starts and ends. To change the position of the control line, click on the object to select it, position the cursor on either of the grab bars, and drag it to the desired location.

To move the Fibonacci Fan, position the cursor in its center (the cursor changes to a hand). You can now drag it to a new position on the chart.