Apply Fibonacci Trend Lines

Instructions

The Fibonacci trendlines may be used to help determine price support/resistance at or near certain levels. The Fibonacci lines occur at 0.0%, 23.6%, 38.2%, 50.0%, 61.8%, 76.4% and 100.0%. Retracements occurring at these points within a trend could be used to help determine entry and exit points for a contract.

To Add Fibonacci Lines to a Chart

  1. From within a chart, right click on an empty space and select Add Fibonacci Line.

    • Alternatively, you may select the Edit button followed by Fibonacci Retracement/Extension.

      The Fibonacci Lines menu in TWS.

  2. Click your mouse at a peak or low point in the chart and pull to down/up and to the right across the chart.

  3. A series of seven colored trendlines are drawn at 0.0%, 23.6%, 38.2%, 50.0%, 61.8%, 76.4% and 100.0%.

    The series of colored trendlines in TWS.

To Delete a Fibonacci Series of Trendlines

  1. Click the Remove All Trendlines icon, located three icons to the right from the Add Fibonacci Line icon.

 

Additional Resources