The Fibonacci Arc tool is used to measure the different retracement levels within a market.
Drawing a Fibonacci Arc:
1. Select the Fibonacci Arc tool from the Toolbar.
2. Move the mouse pointer to the point on the chart that you would like to start the stem of the Arc tool, click start.
3. Move the mouse pointer to the ending point for the arc tool and click to place. (While moving to the end point, the arc will extend for you to get an idea of placement on the ticks.)
Resizing the Fibonacci Arc:
1. Select the arc by clicking on it. You can tell the arc is selected when boxes appear on the corners of the drawing.
2. Click on one of the boxes to drag the select point and release the mouse button to place.
Moving the Fibonacci Arc:
1. Select the arc by clicking on it.
2. Drag to the new location and release the mouse button.
Deleting the Fibonacci Arc:
1. Select the arc by clicking on it and press the Del(Delete) key on your keyboard.
2. Or, right-click on the arc and select "Delete" on the menu.
Changing Properties for the Fibonacci Arc:
Right-click on the drawing to view the Properties menu. Properties that can be changed are:
Foreground - Changes the line color of the arc.
Line Thickness - Changes the thickness of the arc lines. Choose values from 1-6.
Line Style - Changes the line style of the arc, which shows when the line is selected. Choose from Solid, Dashed, Dotted, and more.
Font - Changes the Font, Size, Style, and Color of the values.
Show Text - Deselect\Select to view or hide the values.
Show Retracements - Select/Deselect to view the additional retracement percentages.
Show Prediction - Select/Deselect to view the additional prediction percentages.
Send to Back - Changes the layer of the drawing. This option is used when more than one drawing is in the same area of the chart. Click on "Send to Back" when you need to access a drawing under the Fibonacci Arc.
Delete - Select to delete the tool.
Example of a Fibonacci Arc in Track 'n Trade Pro:
