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Fibonacci Retracements

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, and are available in the program. To display Fibonacci Retracements, you must be in trend line mode. Once you are in trend line mode, display the P-Channel Options menu and select Fibonacci. Finally, display the Trend Line Functions menu and select P-Channels. For more detailed instructions on drawing Fibonacci Retracements, please see Drawing Price Channels.