Auto Fib Extension & Retrace

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Auto Fib Extension and Retrace:

  • Purpose: Some trading platforms and charting software offer automated or "auto" Fibonacci tools that can quickly draw retracement and extension levels based on user-defined criteria.

  • How it Works: Traders can select a starting point (usually a swing high or low) and apply the auto Fibonacci tool. The software automatically draws the retracement and extension levels, making the analysis faster and more convenient.

  • Adjustable Parameters: Traders often have the flexibility to customize the tool by selecting specific Fibonacci levels or adjusting the tool's sensitivity to fit their trading strategy.

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