Auto Fib retracement
Fibonacci retracement levels across the largest move of the last N bars.
Formula
Level = Move end − ratio × (Move end − Move start), ratios 0, 0.236, 0.382, 0.5, 0.618, 0.786, 1
How to read it
Pullbacks often pause near the 38.2%, 50% and 61.8% levels.
How to use it
Marks where a pullback inside a trend might find support before the trend resumes.
Limitations
The ratios have no proven predictive power; they work partly because many traders watch them.
In Kereon
Charts · Superchart. Between the lowest low and highest high of the last 150 bars, with 0% at the move's end.
Also called: fibonacci retracement, fib, fibonacci, retracement, golden ratio.