Fibonacci Time Extension
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Fibonacci Time Extension

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Article summary

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Fibonacci Time Extension is similar to Fibonacci Timezone and it also sets time lines on the chart where the distance between them is based on Fibonacci sequence. But while Fibonacci Timezone is more about identifying where an entry point may be on the chart, the Fibonacci Time Extension tool is for where the market will potentially go (exit point).

Fibonacci Time Extension is drawn by three points. To add Fibonacci Time Extension to the chart, click its name or the iconfibonacci_time_extensionon the Drawings Panel. First, specify low and high points on the chart to draw a trendline. Then specify the third point to place the second trendline in order to fix the Fibonacci Time Extension.

Note: To cancel drawing, press ESC

fibonacci_time_extensionFibonacci Time Extension drawing

Actions with the Fibonacci Time

  • To edit the Fibonacci Time Extension (the trendline), drag it by one of the points.
  • To move the Fibonacci Time Extension, drag it by one of its lines to where you want it on the chart.
Note: To open the settings window, double-click a line on the chart

Fibonacci Time Extension Toolbartoolbar1(2)

Color. In the Color section, you can change the color of the Fibonacci Time Extension entirely. The slider at the bottom is intended to set transparency of the color.
To create a custom color:
  • clickto open the color picker
  • by using the slider at the bottom, adjust the main color
  • on the color picker, set a shade for the main color

The custom-created colors are added to your palette. To remove a custom color, drag it out of the palette.

Weight. In the Weight section, you can set the thickness and style of the Fibonacci Time Extension entirely (currently, only dashed style is available).
Settings. A set of parameters that are described in Fibonacci Time Extension Settings.
Lock. Locks the drawing position. The figure cannot be moved or edited on the chart.
Delete. Removes the Fibonacci Time Ratios from the chart.
Note: To delete Fibonacci Time Extension, you can also press the Delete or Backspace button on your keyboard

Fibonacci Time Extension Settings

  • Coordinates. The coordinates of the trendline that you can specify manually by filling out the values for the prices, dates and time.
  • Labels. In the Labels section, you can choose whether to show coefficients on time lines or not. The labels can be aligned left/right of a level and top/middle/bottom of the entire Fibonacci Time Extension area.
  • Style. In this section, you can set a color or style for the trendline of the Fibonacci Time Extension. And separately for every time line, you can set a color, style or offset of the line from its initial position. Turn on/off displaying of a level by clicking to the left of every settings. Also, here you can set background transparency or turn it on/off.   
    Note: To apply the color and style of the trendline to the entire Fibonacci Time Extension, click Apply to all

Click Close to apply the settings.

Note: At the bottom-left corner of the window, click Restore Defaults to reset the settings