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Description
Fibonacci retracement is a very popular tool among technical traders and is based on the key numbers identified by mathematician Leonardo Fibonacci in the thirteenth century. Fibonacci retracement levels use horizontal lines to indicate areas of support or resistance at the key Fibonacci levels before the trend continues in the original direction. These levels are created by drawing a trendline between the high and low and then dividing the vertical distance by the key Fibonacci ratios. Fibonacci's sequence of numbers is not as important as the mathematical relationships, expressed as ratios, between the numbers in the series. In technical analysis, Fibonacci retracement is created by taking two extreme points on a stock chart and dividing the vertical distance by the key Fibonacci ratios of 23.6%, 38.2%, 50%, 61.8% and 100%. Once these levels are identified, horizontal lines are drawn and used to identify possible support and resistance levels. Fibonacci retracement price levels can be used as buy triggers on pullbacks during an uptrend.
DISCLAIMER:
While there is no reason to believe the calculator is unreliable, no liability is accepted for any errors or inaccuracies.
All calculations in this application are based on formula and do not reflect any guarantee of earnings, financial savings, tax advantages or otherwise. The app is not intended to provide investments, legal, tax, or accounting advice.
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- Aspire Android Developer
- Platforms: Android Apps (7)
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Additional Information
- Version: 1.2.5
- ID: com.aspireandroiddeveloper.fibonacci
- Category:
Android Apps›Finance - OS:
Android 6.0 and up - Size:
23 Mb - Content Rating:
Everyone - Google Play Rating:
0 - Updated:
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- Website:
http://aspireandroiddeveloper.com/
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