What it draws
Draws a fan of trend lines from a pivot through points where the swing's price range is divided at Fibonacci ratios (0.382, 0.5, 0.618, etc.), often with an accompanying grid. The fan lines act as sloped support and resistance that account for both price and elapsed time.
How to draw it
- Pick Fib Speed Resistance Fan from the left toolbar (Fibonacci group).
- Two points: click the swing start (the pivot), then the swing end; the fan lines radiate from the pivot through the ratio divisions of that swing.
How traders use it
- In an uptrend, watch pullbacks to the 0.618 fan line first, then 0.5, then 0.382 — each successive line lost transfers support to the next.
- Losing the 0.382 line (the shallowest support in an up-fan) is a common trend-failure warning, often preceding a full retest of the pivot.
- Fan lines show 'speed' — a trend that keeps outpacing its steepest fan line is accelerating; slipping to flatter lines means deceleration.
- Use intersections of fan lines with horizontal fib retracements of the same swing as high-attention reaction points.
Settings reference
Double-click the drawing (or use its floating toolbar → gear) to open settings:
| Setting | Control | Possible values | Default | Effect |
|---|---|---|---|---|
| Fibonacci Levels | levels-editor | per level: visible checkbox, value (number, step 0.001), color swatch, line style (solid/dashed/dotted), delete; "+ Add Level" appends a new level | 0, 23.6%, 38.2%, 50%, 61.8%, 78.6% (hidden), 100%, 127.2% (hidden), 161.8%, 261.8% (hidden), 361.8% (hidden), 423.6% (hidden) | Defines the retracement/extension ratios drawn between the anchors — each level’s visibility, ratio value, color and dash pattern is editable, and levels can be added or removed. |
| Extend | multi-select | Extend left line | Extend right line (dropdown summarizes as Don't extend / Extend left line / Extend right line / Extend both) | Don't extend | Extends the line past its anchor points to the left and/or right edge of the chart. |
| Reverse | checkbox | on/off | off | Flips the 0 and 1 anchors so the levels are measured in the opposite direction. |
| Show Coefficients | checkbox | on/off | on | Shows the ratio value (e.g. 0.618) in each level’s label. |
| Show Prices | checkbox | on/off | on | Shows the actual price of each level in its label. |
| Coefficients as % | checkbox | on/off | off | Displays level coefficients as percentages (61.8%) instead of ratios (0.618). |
| Show Trendline | checkbox | on/off | on | Draws the base trendline between the two anchor points. |
| Log Scale Levels | checkbox | on/off | off | Computes level prices logarithmically — matches the visual spacing when the price scale is logarithmic. |
| Color | color | any color (theme color picker) | #05B878 | Main stroke color of the drawing — lines, outlines and (unless overridden) labels derive from it. |
| Line Width | select | 1px | 2px | 3px | 4px | 2px | Stroke thickness of the drawing’s lines and outlines. |
| Line Style | select | Solid | Dashed | Dotted | Solid | Dash pattern used for the drawing’s lines. |
| [Tab] Text — Text | checkbox + textarea | on/off, with a multiline text box for the label content | off (on when the drawing already carries text) | Enables an attached text label on the drawing; typing in the box auto-enables it and updates the label live. |
| [Tab] Text — Text Color | color | any color | same as the drawing’s line color | Color of the attached text label. |
| [Tab] Text — Font Size | select | 8, 10, 11, 12, 14, 16, 18, 20, 24, 28, 32, 36, 48, 64, 72 | 14 | Point size of the attached label text. |
| [Tab] Text — Bold | checkbox | on/off (B toggle button) | off | Renders the label in bold. |
| [Tab] Text — Italic | checkbox | on/off (I toggle button) | off | Renders the label in italics. |
| [Tab] Text — Word Wrap | checkbox | on/off | off | Wraps long label text onto multiple lines instead of one long line. |
| [Tab] Text — Text alignment (vertical) | select | Top | Middle | Bottom | Top | Vertical placement of the label relative to the drawing. |
| [Tab] Text — Text alignment (horizontal) | select | Left | Center | Right | Center | Horizontal placement of the label relative to the drawing. |
| [Tab] Coordinates | number + datetime | one row per anchor point: price (number, step 0.05) and local date/time | the drawing’s current anchor values | Edits anchor geometry numerically — changing a point’s price or time moves the drawing live on the chart. |
| [Tab] Visibility | checkbox + number range | interval buckets: Ticks; Seconds 1–59; Minutes 1–59; Hours 1–24; Days 1–366; Weeks 1–52; Months 1–12; Ranges (each bucket has an on/off checkbox, most also a from–to range) | visible on all intervals | Per-timeframe visibility rules — untick a bucket to hide the drawing on those chart resolutions, or narrow the from–to range within a bucket. |
Editing & managing
- Move / adjust: drag the drawing or any anchor handle; magnet mode snaps points to OHLC values.
- Clone / lock / hide / delete from the floating toolbar or right-click menu.
- Templates: save the current style from the settings dialog and reapply it to new drawings.
- Every action is undoable (⌘Z / Ctrl+Z).
Watch out for
- Fan line positions shift with chart scaling and the exact anchor bars chosen — verify a line with real historical touches before leaning on it.