How to use Fibonacci retracements on Kite

Tue, 19 May 2026 00:00:00 +0000

Fibonacci retracements identify potential support/resistance levels during a counter-trend pullback. Based on Fibonacci ratios; widely used by Indian retail traders.

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How to use Fibonacci retracements on Kite

Sun, 17 May 2026 00:00:00 +0000

Fibonacci retracements are a charting tool, not an indicator: they draw horizontal lines at fixed ratio levels (23.6%, 38.2%, 50%, 61.8%, 78.6%) between two user-chosen price points, typically a swing high and a swing low. The tool is built into Kite charts on both the ChartIQ and TradingView engines, with TradingView offering the broader Fibonacci toolkit (extensions, fans, arcs, time zones).

The premise of Fibonacci analysis is that markets retrace in proportional amounts after directional moves, and the ratios derived from the Fibonacci sequence (a number sequence where each term is the sum of the two preceding it, with successive ratios converging on phi, approximately 1.618 or 0.618 inverse) appear in those retracements often enough to be useful as decision inputs. The empirical case is mixed: there is no robust academic evidence that Fibonacci levels are predictive on their own, but they are widely-used as confluence inputs alongside other technical reference points.

Fibonacci on WebNotes

How to use Fibonacci retracements on Kite

How to use Fibonacci retracements on Kite