Yummy Profit Wiki
  • Yummy Profit Intro
  • General FAQ
  • Join our community
  • GETTING STARTED
    • 💡Start exploring
    • 🗝️Quick start
  • ✨HOW TO USE?
    • Setup indicator alerts
      • Mobile notifications
      • Telegram alert
    • Indicator Market Scanner
    • Indicator Analysis Summary
  • 🚨INDICATOR & TRADING STRATEGY
    • What's technical indicator?
    • Trend following
      • Moving Average (MA)
      • Exponential Moving Average (EMA)
      • MACD
      • Fibonacci Level
    • Momentum
      • Ichimoku Cloud
      • Relative Strength Index (RSI)
      • Stochastics RSI
      • Commodity Channel Index (CCI)
    • Volatility
      • Bollinger Bands (BB)
      • Super Trend (ATR)
    • Price Action
      • Doji
      • Spinning Top
      • Marubozu
      • Shooting Star
      • Inside bar & Pin bar
      • Hammer & Hanging Man
      • Morning Star & Evening Star
      • Bullish engulfing & Bearish engulfing
      • Tweezer bottom & Tweezer top
    • Trading Strategy (Advance)
      • MACD divergences
      • RSI divergences
      • Stochastics RSI divergences
  • 💸PRICING
    • Free User
    • Premium User
  • Website
  • Contact Admin
Powered by GitBook
On this page
  • What Are Fibonacci Retracement Levels?
  • Open the Fibonacci indicator on tradingview.com
  • The indicator config
  • Alert when ...
  • The result

Was this helpful?

  1. INDICATOR & TRADING STRATEGY
  2. Trend following

Fibonacci Level

PreviousMACDNextMomentum

Last updated 3 years ago

Was this helpful?

Fibonacci retracement levels are horizontal lines that indicate where support and resistance are likely to occur

What Are Fibonacci Retracement Levels?

Fibonacci retracements is a popular instrument used by technical analysts to determine support and resistance areas. In technical analysis, this tool is created by taking two extreme points (usually a peak and a minimum) on the chart and dividing the vertical distance by the key Fibonacci coefficients equal to 23.6%, 38.2%, 50%, 61.8%, and 100%.

Once these levels are defined, horizontal lines are then drawn and used to determine possible support and resistance levels.

Open the Fibonacci indicator on tradingview.com

Yummy Profit builds this alert based on the "Auto Fibonacci Retracement" (Auto Fib) indicator.

If you are a regular user of the fibonacci retracement indicator then don't miss this indicator on yummy profit app.

So how to install and configure the fibonacci indicator?

The indicator config

The configuration of fibonacci indicator, we are all built based on tradingview, including parameters:

  • Depth: Depth affects the minimum number of bars that will be taken into account when building.

  • Reverse: Reverse is the reverse order of lines.

Alert when ...

Alert when the price crosses above/below the levels of the fibonacci line: 0; 0.236; 0.328; 0.5; 0.618; 0.786; 1; 1.618; 2.618; 3.618; 4.236.

The result

To visualize how the fibonacci retracement indicator works. First, you open website, then open Indicators on your chart and find Auto Fib Retracement in the Built-ins tab.

🚨
tradingview.com