Fibonacci Trading Indicator

Fibonacci Trading

What is a Fibonacci Number?

Fibonacci numbers are lines created by ratios found in Fibonacci’s sequence on a chart. There are six common Fibonacci numbers: 38.2, 50%, 61.8, 78.6, and 100.0. These are the Fibonacci numbers that come into play every day. From one Fibonacci level to a Fibonacci retracement, the numbers reflect how far the price could go.  

Using Fibonacci levels as guidelines, we can determine where price action will move from. Know these Fibonacci levels ahead of time and see how accurate they are in your trading. Our Auto Fibonacci Indicator adjusts to the price action and will show the potential areas of support and resistance. Trade the Fibonacci numbers and levels each day and see how the reversals happen in the major reversal areas.

For precision and accuracy, Fibonacci levels move with the price action. Our Fibonacci indicator has two levels that other Fibonacci indicators don’t have. Our programmers put in the code for a daily support line and another support line for the opening price. I learned these major areas of support from a trading firm where I obtained my education over sixteen years ago. Major trading firms use these lines as support levels because they are very accurate.

The online video course that comes with the software teaches you how to trade Fibonacci retracement levels. All trading firms use Fibonacci retracement levels in their trading and program trading. 

Fibonacci Levels

Fibonacci Trading Crude Oil

Trading Crude Oil and Fibonacci retracement levels appear automatically on the chart and show the market range. Fibonacci levels are used to predict the next support or resistance level for a price. These Fibonacci numbers predict where the price will go, and the lines are drawn automatically. No more second-guessing where to draw the lines in your electronic trading. 

 

The Fibonacci key ratio is 61.8% and 78.6 which are key reversal areas. Other key areas of support are the Fibonacci numbers at the 23.6% and 38.2% levels. In the chart above, Crude Oil ran up to the 100% Fibonacci level, and that’s where the selling started. We sell short at the 23.6 Fibonacci level, and the price sells off to the 78.6 Fibonacci level, which was our target for a nice gain. 

Fibonacci Levels Indicator

Fibonacci Level Sell Off

In this chart, we are trading two ES contracts. Price ran up to the daily high and then went sideways. We then went short above the 100% Fibonacci level as the price sold off. In trading Fibonacci levels, price action usually moves from one Fibonacci level to the next. 

 

So our target was the 78.6 Fibonacci level which, when hit, resulted in a nice gain of over $1000 for this trade on two contracts. Our stop is protecting our profits as the price moves lower. With the NinjaTrader platform, we use an ATM strategy to select the contract size, stops, and targets for our entry. This is very easy to set up, and all traders should use an ATM Strategy in their trading. 

 

Our online video course that comes with the software will teach you how to trade the Fibonacci retracement levels and give you the edge in your electronic trading. All trading firms use Fibonacci retracement levels in their trading and program trading. 

Fibonacci Trading Indicator

Fibonacci Trading ES

This indicator draws the Fibonacci retracement levels automatically and will show the market range. The Fibonacci levels are used to suggest the next price support and resistance levels. These Fibonacci numbers predict where the price will go, and the lines are drawn automatically. No more second-guessing on where to draw the lines and trade them in your electronic trading. The ninjatrader Fibonacci key ratio is 61.8% and 78.6 which are key reversal areas; other key areas of support are the Fibonacci numbers at the 23.6% and 38.2% levels.

Above all, our Fibonacci Levels are labeled right on the chart. You have Daily Support- Daily Open in all key areas where the market moves. In addition, you have five automatic Fibonacci retracement levels that trade each and every day, and these patterns repeat.

Fibonacci Indicator

Key Facts About Fibonacci Numbers

Fibonacci extension levels and Fibonacci ratios are all about technical analysis, and Fibonacci extensions are used each day in trading futures. They provide support and resistance levels that are automatically generated with our software. These Fibonacci extension levels show how far the price could move following a pullback. They identify key resistance levels where traders can interpret market behavior and place profit targets and stop-loss orders.

Fibonacci ratios display the points where the market price can reverse its current position or trend. Common ratios are 23.6%, 38.2%, 50%, 61.8%, and 100%.

With a sell-off in the NQ, we get short just above the 38.2 Fibonacci level and target the daily Fibonacci level, a major support level that we hit. 

Fibonacci Indicator

Fibonacci Levels

Fibonacci Levels

Trading with an Automatic Fibonacci indicator is a tool every trader should have in their online trading system. Fibonacci numbers are very reliable in drawing levels on your trading chart and using them in your trading strategy. Additionally, using Fibonacci retracement levels makes online trading less stressful and more successful.  

 

Another example of shorting the Fibonacci level and targeting the 61.8 Fibonacci Level.

 

Furthermore, the Fibonacci retracement is accurate to the tick in Ninjatrader and moves with the price action. This gives the trader an edge in knowing where the price action can go and the technical analysis to have more successful trades using Fibonacci numbers. We go short @ the 78.6% Fibonacci Level and target the 61.8% Fibonacci level, and targets were hit. Then in the chart below, we shorted the 50% Fibonacci level, and are targets were 61.8 for a nice trade.

Fibonacci Trading

Fibonacci Numbers Crude Oil

Want the precise edge in trading? Want to know where the price is going before it gets there? That’s all available in the Trading123 Automatic Fibonacci indicator, precise Fibonacci levels that move with the market and the price action. So that means no drawing the Fibonacci levels on your own. 

Fibonacci levels are plotted right on the chart, and you will learn where the major reversals happen and avoid the chop. You will often see a quick move to the upside when the price hits these major levels. And target the next Fibonacci levels, which are all explained in the educational material that comes with the software. Works on all futures and forex, the Fibonacci levels are plotted automatically and are very accurate. In the chart below, we see a breakout of the 61.8 Fibonacci level, and the price goes up. This is a simple and easy method to trade each day as these patterns repeat. 

Fibonacci Numbers

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Fibonacci Levels Indicator
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Trading123 indicators are applicable to all global markets and various time frames including minute, daily, tick, volume and Renko. You must use the most updated version of NinjaTrader 8 for our software to work.  Our software only works with the Ninjatrader trading platform and no others.

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Fibonacci Trading Indicator

Fibonacci Numbers

Frequently Asked Questions

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