Fibonacci Time Zones

Description

Fibonacci Time Targets (or Fibonacci Time Zones) are a series of vertical lines. They are spaced at the Fibonacci intervals of 1, 2, 3, 5, 8, 13, 21, 34, etc. A major low or high is often chosen as the starting point. The interpretation of Fibonacci Time Targets involves looking for significant changes in price near the vertical lines.

How this indicator works

Anticipate changes in price near the Fibonacci Time Zones.

Calculation

Vertical lines are drawn at Fibonacci intervals starting from the bar selected with the drawing tool.