Fibonacci Calculator
Retracement · extension · projection φ = 1.618
Entered as a percent · 120 → 1.20 · 61.8 → 0.618
Levels are reference zones, not trade signals. Always confirm with your own analysis.
Built for swing & intraday traders · golden ratio 0.618 / 1.618 highlighted
How to use this calculator
Pick the trend direction, enter the swing high and the swing low of the move you are measuring, and the levels are calculated as you type. Switch between retracement, extension and projection with the tabs. Levels are editable — add or remove any percentage you personally use, and it is remembered on this device.
What the retracement levels mean
A retracement measures how far price has pulled back against a completed move. If a stock ran from 100 to 200 and is now at 162, it has retraced roughly 38% of the advance.
| Level | How traders generally read it |
|---|---|
| 23.6% | A shallow pause. Common in strong trends where price barely gives anything back. |
| 38.2% | The first level that gets watched seriously. A trend holding here is usually considered intact. |
| 50% | Not a Fibonacci ratio at all, but included by convention because half-retracements are watched so widely. |
| 61.8% | The golden ratio, and the level most often treated as the last line for the original trend. |
| 78.6% | Deep. Price this far back is frequently read as the move having failed rather than paused. |
Worth being clear about what these are: reference zones, not signals. They matter largely because a great many participants are watching the same numbers, which is a real effect but a different thing from a level having predictive power on its own.
Retracement, extension and projection
- Retracement — where a pullback within a completed move might find support or resistance. Used for entries.
- Extension — where price might travel beyond the original move once it resumes. Used for targets.
- Projection — applies the size of a prior swing forward from a new starting point. Used when a market moves in visibly similar legs.
Choosing the swing high and low
This is the part that decides everything, and it is where most disagreement comes from. Two traders on the same chart pick different swings, get different levels, and reach different conclusions.
- Measure a complete move — a clear low to a clear high, not the middle of an ongoing one
- Match the swing to your holding period. An intraday trade off weekly swing levels is measuring the wrong thing.
- Use the actual high and low of the candles, not the closes, unless you consistently do otherwise
- If a swing is not obvious to you within a few seconds, it is probably not obvious to anyone else either — and levels drawn from it carry no weight
Using it on NSE, BSE and MCX instruments
The arithmetic is identical across instruments, but a few practical points apply to Indian markets:
- Index levels — NIFTY and BANKNIFTY levels tend to be watched more widely than individual stock levels, simply because more people are looking at the same chart.
- Options — run Fibonacci on the underlying, not the option premium. Premium moves with time and volatility as well as price, so a retracement drawn on it is measuring three things at once.
- MCX — commodities such as CRUDEOIL and NATURALGAS gap on international news between sessions. A level from before an overnight gap frequently means nothing after it.
- Gaps generally — Indian equities gap at the open often. Decide in advance whether your swing measurement uses the gap or ignores it, and stay consistent.
Common mistakes
- Redrawing until it fits. If you are adjusting the swing until the levels line up with where price already turned, you are describing the past, not analysing it.
- Treating a level as a signal. A level is a place to watch for evidence. The evidence is what you trade.
- Too many levels. With enough lines on a chart, price is always near one of them, and the tool stops telling you anything.
- Ignoring the wider trend. Retracement levels in a downtrend are places a bounce can die, not places to buy because a number was reached.
Watch: Fibonacci retracement on MetaTrader 5
Our free 12-lesson Fibonacci course shows how to draw the levels on a live chart. Start with these two lessons.
Lesson 0: how to draw a Fibonacci retracement in MetaTrader 5
Lesson 1: the five retracement levels, 38.2 and 61.8 on NIFTY
Doing this by hand on every chart? Our AutoFibonacci indicator for MetaTrader 5 identifies the significant swing high and low itself, on whatever timeframe the chart is set to, and redraws as new extremes form. It removes the one step in this process that is genuinely subjective. It ships free with the plans.
See the MT5 indicators →This calculator is provided free as a reference tool. TradexCodez supplies trading software and does not provide investment advice or trade recommendations. Fibonacci levels are analytical reference points, not predictions. Trading carries risk of loss.
