The Fibonacci series are a set of numbers where the next one is always the sum of the previous two.
These are used in mathematics to provide a solution to some enumerative problems but applicability extends to the financial market, where they can indicate the potential support or resistance levels.
Fibonacci calculator is designed for the Forex market in order to compute retracement values that can help with taking a trading decision.
Easy installation, no setup required
The application is actually a gadget designed to work with Google Desktop product. It integrates in the side bar but it can also be undocked and moved freely on the desktop.
There aren’t any settings to tinker with and the application window consists of just two fields for inputting the high and low values and a button for initiating the computation of the levels.
Results are displayed without delay and take into consideration the 38, 50, and 62 levels, which are the most used in trading. Generally, trading should be intensified when the minimum retracement is around the 38% value; a weaker trend is usually noted when the value is increased to 61.8%.
Fibonacci calculator is exactly what the name suggests: a tool that computes the Fibonacci levels. It can help in the trading business but it is not always reliable, so care and plenty of experience with the trading market are always advantageous.
NOTE: Although Google Desktop has been discontinued by the developer the download links can still be found on the web. However, we recommend the use of a different calculator, such as Forex Fibonacci Levels, which works as a standalone application.
top PAID alternatives