Feature 6: PAT FIB
PAT Auto Fib automatically plots Fibonacci retracement levels on a price chart. Fibonacci retracements are a popular analysis used in technical analysis to identify potential support and resistance levels based on Fibonacci ratios. The PAT Auto Fib indicator simplifies the process by automatically calculating and drawing these levels for the traders. PAT Auto Fib indicator will plot Fibonacci retracement levels on your chart. These levels are based on key Fibonacci ratios (typically 0.382, 0.500, and 0.618) and are commonly used to identify potential support and resistance areas. Traders often watch for price reactions or reversals near these levels as potential entry or exit points.
Fibonacci retracement levels can be adjusted based on specific price movements or timeframes. Consider modifying the Auto Fib indicator or refreshing it periodically to capture the most relevant Fibonacci levels based on the latest price action. While PAT Auto Fib provides automated Fibonacci retracement levels, it's crucial to supplement this analysis with other technical tools and indicators. Use our PAT S/R, PAT Trends , or PAT Oscillators to confirm signals or identify potential trade setups.