> ## Documentation Index
> Fetch the complete documentation index at: https://takeprofit.com/docs/llms.txt
> Use this file to discover all available pages before exploring further.
# Fibonacci Tools
## Fibonacci Retracement (Alt + F)
Fibonacci Retracement is a powerful technical analysis tool that helps identify potential support and resistance levels during price corrections. These levels are based on key ratios derived from the Fibonacci sequence.
### How to Use
1. Select the Fibonacci Retracement tool (Alt + F)
2. Click at the starting point of the trend (first extreme point)
3. Drag to the second extreme point and click to complete
* For uptrends: Start at low, drag to high
* For downtrends: Start at high, drag to low
### Key Fibonacci Levels
The tool automatically creates horizontal lines at key percentage levels:
* 0% (start of the measured move)
* 23.6%
* 38.2%
* 50% (not actually a Fibonacci ratio but widely used)
* 61.8%
* 78.6%
* 100% (end of the measured move)
### Practical Applications
* Identify potential reversal zones during retracements
* Set strategic entry points after pullbacks
* Place stop-loss orders below/above key levels
* Determine price targets for trades
* Confirm support/resistance with other indicators
### Customization Options
#### Trend Line Settings
* Toggle trend line visibility
* Change line color and opacity
* Adjust line thickness
#### Level Line Settings
* Modify line thickness and style
* Add custom levels (click "Add level" at bottom of level list)
* Remove unwanted levels
#### Background Options
* Enable/disable background fill between levels
* Adjust background opacity
#### Display Options
* Reverse: Flip the retracement vertically
* Prices: Show price values next to each level
* Levels: Toggle visibility of level percentages
* Labels: Position level values along the line
* Font size: Adjust text size
### Precise Positioning
Fine-tune placement using the Coordinates properties:
* Price 1: Set exact position of first point (bar number and price)
* Price 2: Set exact position of second point (bar number and price)
**Pro Tip:** Former resistance levels often become support levels after breakouts. Pay special attention to how price reacts at the 38.2% and 61.8% retracement levels, as these often provide strong support/resistance.
## Fibonacci Extension (Alt + Shift + F)
Fibonacci Extension helps identify potential price targets beyond the original trend. It's particularly useful for setting profit targets and identifying possible reversal zones after a retracement has completed.
### How to Use
1. Select the Fibonacci Extension tool (Alt + Shift + F)
2. Click to place the first point at the beginning of the move
3. Click to place the second point at the end of the initial move
4. Click to place the third point at the end of the retracement
* The extensions will project beyond the second point
### Key Extension Levels
Common extension levels include:
* 100% (the length of the original move)
* 127.2%
* 138.2%
* 161.8%
* 200%
* 261.8%
### Practical Applications
* Project potential price targets beyond previous highs/lows
* Identify possible reversal points after strong trends
* Set profit-taking levels for trend-following trades
* Plan position sizing based on risk/reward at extension levels
* Confirm price objectives from other technical methods
### Customization Options
The Fibonacci Extension tool offers the same customization options as the Retracement tool:
* Line appearance settings
* Level configuration
* Background options
* Text display preferences
### Precise Positioning
The Coordinates properties allow exact placement of all three points:
* Price 1: First point of the move (starting point)
* Price 2: Second point of the move (end of initial move)
* Price 3: Third point (end of retracement)
## Fibonacci Speed Resistance Fan
Projects **diagonal** lines from key pivots using Fibonacci ratios to map dynamic support/resistance and trend strength.
### How to Use
* Choose **Fibonacci Speed Resistance Fan** in the drawing toolbar.
* Click the **anchor** at a major swing (low for uptrends, high for downtrends).
* Drag to the **opposite pivot** to set the 0→1 base; rays render automatically.
* Reposition either handle to refine anchors; the fan updates live.
### Key Fibonacci Levels
* Defaults: **0**, **0.236**, **0.382**, **0.5**, **0.618**, **0.786**, **1**.
* Each ray = a **slope** that often acts as dynamic S/R.
### Practical Applications
* **Trend strength**: Holding above 0.382/0.5 = strong; testing 0.618/0.786 = weakening.
* **Pullback entries**: Buy reactions to rising rays; sell rallies to falling rays.
* **Confluence**: Pair with **RSI/MACD** or MAs for timed entries/exits.
* **Targets/Stops**: Next ray as a **target**; stop just beyond the broken ray.
### Customization Options
* Open the tool panel: **Style → Levels / Parameters**.
* Save setups via **Templates**; revert with **Reset settings**.
### Trend Line Settings
* **Reverse**: Flip orientation for opposite trend context.
* **Grid**: Optional helper grid for visual alignment.
* **Levels Line**: Global thickness and color mode (single color or per-level palette).
### Level Line Settings
* **Levels** tab:
* Add/remove levels; set exact ratios.
* Reorder with ▲▼; delete via trash icon.
* Toggle **Left / Right / Top Labels** for ratio text.
### Background Options
* **Background**: Fill sectors between rays.
* Toggle visibility.
* Choose color or gradient for faster zone recognition.
### Display Options
* **Templates**: Store your fan style/levels.
* **Reset settings**: Return to defaults.
### Precise Positioning
* Zoom in; place anchors on **wick extremes**.
* Use magnet/snap (if enabled) for bar highs/lows.
* For new impulses, re-anchor the 0→1 base to the latest **impulse + retrace**.
## Fibonacci Time Zone
Plots **vertical** lines at Fibonacci intervals to highlight time windows where pivots or accelerations are more likely.
### How to Use
* Choose **Fibonacci Time Zone**.
* Click the **origin bar** (key pivot).
* Drag horizontally to define the **base span** (0→1); verticals plot at Fib numbers of that span.
### Key Fibonacci Levels
* Defaults: **0, 1, 2, 3, 5, 8, 13, 21, 34…**
* Use them as **time windows** for potential turns or breakouts.
### Practical Applications
* **Timing pivots**: Watch price behavior as a zone approaches.
* **Event mapping**: Place earnings/FOMC within zones for time confluence.
* **Pair with price tools**: Combine with **Fib Fan** or **Retracements** to align **when** and **where**.
### Customization Options
* Open **Style → Levels / Parameters**.
* Save sequences/colors via **Templates**; reset anytime.
### Trend Line Settings
* **Levels Line**: Global thickness and color for all verticals.
* (No diagonal rays; this tool is time-only.)
### Level Line Settings
* **Levels** tab:
* Enable/disable specific Fibonacci numbers.
* Assign **per-level colors** (e.g., emphasize **8/13/21**).
* Add more levels to extend the sequence.
### Background Options
* **Background**: Shade areas between verticals.
* Toggle visibility and set fill opacity/color.
### Display Options
* **Templates**: Save your configuration.
* **Reset settings**: Restore defaults.
### Precise Positioning
* Set **0** on the bar that starts the move.
* Place **1** on a meaningful subsequent pivot to match market rhythm.
* Zoom in; verticals snap to whole bars for consistent timing.