Fibonacci Fan
Overview
Fibonacci Fans are used to draw a fan of angled lines that are probable values of support and resistance based on a market range. You have complete control over the percentage values used in the Fibonacci Fans tool and the colours of each of the Fibonacci Fan line. Common values are the Fibonacci sequence 38.2%, 50% & 61.8%. These are used as the default values in Optuma.
To add the tool to your chart, select the tool from the Fibonacci tool group, and left-click on the first bar you want to calculate the tool from. Next, left-click on the bar where you want to calculate the tool to. Optuma will then draw the tool using the default settings.
Actions & Properties
Actions
Add to Toolbar: Adds the selected tool to your custom toolbar.
Apply Settings to All: When multiple Fibonacci Fan tools have been applied to a chart, page or workbook, this action can be used to apply the settings of the one selected to other instances of the tool. This is a great time saver if an adjustment is made to the tool - such as line colour - as this allows all the other Fibonacci Fan tools in the chart, page or entire workbook to be updated instantly.
Copy Tool: Allows you to copy the selected tool, which can then be pasted onto a different chart window.
Move to Back: If the tool is displaying in front of other tools or indicators clicking this action will move the tool view to the background.
Move to Front: If the tool is displaying behind other tools or indicators on the chart, clicking this action will bring the tool to the forefront.
Restore Default Settings: Click this action if you have adjusted the default settings of the tool, and wish to return to the standard properties originally installed with Optuma.
Save Settings as Default: If you have adjusted any of the tool’s properties (colour, for example) you can save the adjustments as your new default setting. Each time you apply a new Fibonacci Fan to a chart, the tool will display using the new settings.
Delete: Deletes the tool from the chart.
Properties
Tool Name: Allows you to adjust the name of the tool, as it’s displayed in the Structures Panel.
Levels: Click on this option to display the different Fibonacci Fan levels.
To add a new level to the chart, left-click on the blue + button and enter the values as needed.
- Value - Sets the Fibonacci value for the fan line. To change the value amount, click in the field and enter the new value.
- Line Style - Sets the line type, thickness, colour and transparency of the fan lines.
- Visible - To hide a level, deselect the check box with the green tick.
Line Style: The Line Style property allows you to adjust the type of anchor line displayed. There are 8 options available: Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot, Stippled.
Line Width: Allows you to adjust the width of the anchor line. Moving the slider bar to the right increases the thickness of the line.
Line Colour: Allows you to select the colour of the anchor line. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
Tool Transparency: Use this slider bar to adjust the transparency of the tool. Moving the slider to the left will increase the transparency of the tool.
Visible: Un-tick this checkbox to hide the tool from the chart.