The Fibonacci Arc is drawn by placing a trendline between two extreme points (usually a trough and opposing peak). Centered on the second extreme point, three arcs are displayed. The arcs intersect the trendline at 38.2%, 50.0%, and 61.8% - at the Fibonacci levels.
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As prices approach the arcs, the analyst anticipates support and resistance to interpret Fibonacci Arcs. Investors usually draw both Fibonacci Arcs and Fibonacci Fans to predict support and resistance points where the Fibonacci studies cross.
Note that at the points where the arcs cross, the price data will vary depending on the scaling of the chart, because the Arcs are drawn so they are circular relative to the computer screen.
Properties: Double-click on the tool to display its properties. |
Add Fibonacci Arc to a chart
From the Chart Tools toolbar, click on the Fibonacci Arc tool. 
Holding the left-mouse button, click on the chart where you want to start the control line, then drag the mouse to where you want to end the control line and release the mouse button.
Result: The tool is drawn.
You may continue to add this tool to the chart by repeating Steps 1-2. To de-select the tool, click on the Selection arrow from the Chart Tools toolbar 
, or hit the ESC key.
Change the position of the control line
When the arc is drawn, a "grab bar" is placed where the control line starts and ends. To change the position of the control line, click on the object to select it.
Position the cursor on either of the grab bars, and drag it to the desired location by holding down your left-mouse button.
Once done, de-select the tool by clicking anywhere on the chart.
