What is TradingFinder's Fibonacci Calculator Tool?
The Fibonacci Calculator determines retracement and extension levels based on 3 points: High, Low, and Custom. This tool can be used in various timeframes from one second to 12 months and is applicable to forex, cryptocurrency, and stock markets.
Additionally, all trading styles in short-term, medium-term, and long-term trading are compatible with this calculator.
How to Utilize TradingFinder's Fibonacci Calculator
Follow the next section to receive the tool's output in uptrends and downtrends.
How to Use the Fibonacci Calculator
Uptrend:
- Enter the "High" number in the relevant field;
- Type the "Low" value in its related section (Low must be less than High);
- After setting the "Custom" level, click on the "Calculate" option.
Then, the calculator applies Fibonacci ratios to the input numbers, and retracement and extension levels appear next to their corresponding percentages in the two boxes on the right. The "Custom" number will only affect the extension level output.
Downtrend:
The Downtrend section is located below "Uptrend". Using the calculator in this other part is completely the same as it is with Downtrend.
Understanding Calculator Outputs
In brief, in an uptrend, retracement numbers act as support levels while extension values appear as resistance levels. In a downtrend, the situation is reversed; retracement levels serve as resistance, and extension levels appear as support.
Reasons to Use TradingFinder's Fibonacci Calculator Tool
Traders can determine position entry and exit points by considering the support and resistance levels identified by the Fibonacci calculator. Additionally, this tool allows users to set Price Targets.