Fib fan
Fibonacci2 points to clickLines fanning from one point at a different slope for each ratio.
What it looks like
The numbered dots are where you click. Once drawn, you can grab those dots and move them.
How to draw it
Click the anchor first, then the end of the move. The rays run towards the ratio divisions of the height between them.
When to use it
Unlike horizontal retracements these levels drift with time — the same ratio means a different price depending on when it is reached.
In SQMATE
What you draw stays
Lines you draw are saved to that symbol's notebook. Open the symbol again and they are still there.
Editable afterwards
Grab the points to move them, and change colour, width and line style. Undo works too.
Shares as drawn
Send the chart as a single link. Whoever opens it sees the same lines.
Related tools
- Fib retracementDivides one move into ratios to see how far price has retraced it.
- Fib extensionProjects the size of one move onto another place to measure levels ahead.
- Fib channelA sloping corridor divided by Fibonacci ratios.
- Fib time zonesDivides time rather than price by Fibonacci numbers, as vertical lines.
- Trend-based Fib timeProjects the length in bars of a past move forward in time.
- Fib circlesCircles drawn at each ratio around a centre point.
Drawing tools are a way to organise your thinking. A line you draw does not decide what price will do.