What it does
Draws a series of circles to help predict key support and resistance levels. Default ratios in CQG: 0.250, 0.382, 0.420, 0.500, 0.618, 0.750, 1.000, 1.382, 1.618, 2.618, 4.250, and 6.850.
How to use it
1. Right-click the chart, point to Pointer Tools, point to Fibonacci, then click Circle. The cursor is displayed as a series of circles.
2. Click the chart to establish the origin.
3. Drag the mouse until you have the desired radius, and then click to park the tool.
Fibonacci Circles parameters
FC1:FC1 = circle of origin
FC1:FC2 = seventh circle or scale of 1.000
|
Parameter |
Description |
|
Value |
Enter a value or choose the open, high, low, or close. |
|
Date |
Defines the date of the reference bar. |
|
Time |
Defines the time of day for the reference bar. This applies to intraday use. |
|
Display |
Opens display parameters for circles: Color = Select colors for lines. Weight = Select thickness of lines. Scale = Adjusts the default ratios for placement of circles. Display = Select the check box to show the circle on the chart. |
|
Id |
Turns on and off the labels for the Fibonacci circles and determines their location. |
|
IdWt |
Select normal or bold for thickness of ID. |