Fibonacci Retracements are a technical analysis indicator that evaluates the high and low points of the chart, then places a Fibonacci Retracement from the high point to the low point. Buy signals are generated when the price is below the 50% retracement, while sell signals are generated when the price reaches above the 50% retracement.
In its current implementation, the Fibonacci Retracement indicator is experimental.
Tip: Use during sideways markets or to confirm trends with reversed signals.
Supported Trade Types
- Exchange Website to monitor
- Currency Pair to monitor for trade signals
- Update Speed
- Trade Signals
Tip: The exchange doesn't have to be the same exchange you are currently trading on.
- Number of candles (or time periods) before an action is taken.
This indicator is useful for longer time periods (1 to 4 hours). This indicator works well in high volatility as it assumes that the middle of the retracement will be stable in terms of price fluctuations.