The horizontal trendlines represent the Fibonacci Levels selected in the preferences below. Begin and End are not used for Automatic Retracements.

If this options is checked, then a trendline will automatically be drawn from the highest high to the lowest low over the past X bars, and then the Fibonacci levels will be drawn off this. The Fibonacci trendline endpoints can be automated, can be user specified, can snap to extreme prices, or can even be set automatically to any custom value using a scan.

Fibonacci Retracements are displayed by first drawing a trendline between two extreme points, for example, a trough and opposing peak.

• As prices retrace, support and resistance levels often occur at or near the Fibonacci Retracement levels.
• Fibonacci Retracements now maintain their high or low prices and positions properly when switching periodicities, regardless of the price sources specified.
• Automatic Fibonacci Retracments - If you select the Use last X bars option, then your Fibonacci trendline becomes automated and can then change dynamically as new prices come into the chart.

If the Fibonacci trendline slope is positive, then the low will be used, while a negative slope dictates the high will be used.

The keyboard can be used to move the Fibonacci points to the right and left. Then hit the tab key repeatedly until you notice your Fibonacci Retracement lines are selected.