Fibonacci Fans

The Fibonacci studies in trendline mode are based on the Fibonacci summation series. The series is the sum of the previous two numbers 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144 to infinity.

Fibonacci Fans - Once you have established your start and end points, an imaginary line is then plotted, running vertically from your end point to the price of your start point. The Fan lines are then drawn from your start point outward and intercept the imaginary vertical line at intervals of 23.6%, 38.2%, 50%, 61.8%, 100%, 161.8%, and 261.8% of the distance between the price of the start point and the end point.