TradeStation Help

Fibonacci Cycles Drawing Object

Fibonacci Cycles are analytical drawing tools that consist of a series of vertical lines representing Fibonacci Time Zones with the lines spaced at Fibonacci intervals of 1, 2, 3, 5, 8, 13, 34, 55, etc from a previous high or low. Fibonacci Cycles are used to look at significant changes in price in the proximity of the vertical lines. It is believed that the market frequently experiences a reversal in trend near these Fibonacci intervals that start from previous highs or lows.

You can also use the shortcut menu for a selected object component (identified with small squares) to change the drawing properties such as Color, Style, Weight, and any object specific settings.

Drawing Fibonacci Cycles

Drawing objects are applied to a chart to assist with data analysis. See About Drawing Objects for more details.

  1. Activate a Chart Analysis window.
  2. From the Drawing toolbar, select Fibonacci Cycles    icon. Your pointer will change to the shape of Fibonacci Fixed-based Time Lines.
  3. Click where you want to insert the Fixed-based Time Lines and drag your pointer to the left or right to position the drawing object.
  4. Click where you want the Fixed-based Time Lines to begin.
  5. Move the pointer up, down, left, or right to position the Fixed-based Time Lines, then click again to insert.

Moving a Fibonacci Cycles

After a Fibonacci Cycles is applied to a chart, you can reposition the drawing object at any time to evaluate another group of bars.

  1. To move a Fibonacci Cycles, select the Fibonacci Fixed-based Time Lines (small squares in the middle of each Fibonacci line confirms the drawing object is selected).
  2. Drag horizontally to reposition.
Related Topics

Formatting the Alerts of a Drawing Object

Formatting the Labels of a Drawing Object

Formatting the Style of a Drawing Object

Formatting the Data of a Drawing Object