Fibonacci Retracement Scanner

Stocks pulling back part of today's move. If a stock ran from $20 to $22, a 38% retracement is about $21.24 and a 62% retracement is about $20.76. Many traders watch those levels for the pullback to stop.

Drawing Fib levels by hand works on one chart. The scanner does it on every US stock and tells you when price gets there.

The levels here round 38.2% to 38%, 61.8% to 62% and 78.6% to 79%.

Take the low and the high of the move. The range is the high minus the low. A 38% retracement is the high minus 38% of the range; 50% is the halfway point; 62% and 79% sit lower.

Trade Ideas uses today's range for each stock, so the levels move as the day's high and low change. A stock that makes a new high resets the math.

For a move down, it runs the other way: the alerts fire as price bounces up into the levels.

Some traders mean pivot points when they say Fibonacci pivots. Trade Ideas has distance-from-pivot filters built from the prior day's high, low and close: Distance From Pivot (Pivot), Distance From Pivot R1 (PivotR1), Distance From Pivot R2 (PivotR2), Distance From Pivot S1 (PivotS1) and Distance From Pivot S2 (PivotS2).

They show how far price sits from each classic pivot level, in percent. They are classic pivots, not Fibonacci-spaced pivots, so treat them as nearby levels to watch alongside the Fib alerts.

1. In TI Pro, open a Streaming Alerts window and turn on the Fib levels you trade, like FU50 and FU62.
2. Add Relative Volume (RV) and a Price range so only active, tradable stocks come through.
3. Add Change From The Close (%) (FCP) at a min like 3 so the stock had a real move to pull back from.
4. Save the window and turn on sound.

Trend pullbacks. Buy signals on a stock up strongly on the day, entering near the level with a stop under the next one.

Fades. Sell signals on a stock down hard, looking for the bounce to stall.

Context. A Fib level that lines up with VWAP or yesterday's high gets more attention than one sitting alone.

See the pullback scanner for more ways to find dips in strong stocks.

The arrow marks where the stock had won back 75% of its drop to the day's low. The Fib alerts work the same way: the level comes from today's move, and the alert fires on the print that reaches it.

There is no accuracy number that holds for every stock and every day. A level is a place many traders watch, which can make it matter, but price goes through levels all the time.

If you want numbers for your own rules, test them. OddsMaker can backtest an alert setup over past days and show how it did. OddsMaker, the backtester, is part of TI Premium. Results from the past don't guarantee future results.

A screener checks a list against a rule when you run it. A scanner watches all the time. The Fib alerts are a scanner: they fire on the print that reaches the level, during the session.

If you want a screener-style list, build a Top List (Screener) with Change From The Close and Position in Range filters, then watch the Fib alerts for the moment price gets to the level.

38% is a shallow pullback; strong trends often hold it. 50% is not a Fibonacci ratio but it is the halfway point and many traders watch it anyway. 62% is the level most associated with Fibonacci. 79% is a deep pullback; a stock that falls through it has given back most of its move.

Many traders run 50 and 62 together and treat the zone between them as the area to watch.

The alert names say buy and sell, but they describe direction, not advice. A buy signal means price fell back into a level during a move up, the spot where a dip buyer would look. A sell signal means price bounced up into a level during a move down, where a short seller would look.

What you do there is up to you.

A pullback on light volume into a Fib level, in a stock up on heavy volume earlier, is a common setup. Add Relative Volume (RV) at a min of 1.5 for the day, and Change From 50 Day SMA (%) (MA50P) above 0 for the daily trend.

On a gap up, the move used for the levels runs from the prior close or the open, whichever makes the bigger pattern, up to today's high. That ties the Fib scan to the gap: a 50% retracement of a gap is a level many gap traders watch. See the gap scanner.

Example numbers, not a real trade

1. A stock runs from $40 to $43 by 10:30 a.m.
2. It drifts back. FU38 fires near $41.86, then FU50 near $41.50.
3. FU62 fires near $41.14 as sellers slow.
4. A trader using this setup might wait for a reversal candle before buying, with a stop under the 79% level near $40.63.

Strong uptrends tend to hold the 38% level. Normal ones pull back to 50 or 62%. A move to 79% is close to giving the whole move back. Add Change From 20 Day SMA (%) (MA20P) with a min of 0 so you only see buy signals in stocks above their 20 day.

A Fib level tells you where; a candle tells you when. Pair Fibonacci 62% Buy Signal (FU62) with 5 Minute Green Bar Reversal (GBR5), the 5 minute green bar reversal, or 5 Minute Hammer (HMR5), the hammer, on the same window. When both fire within a few minutes on the same stock, buyers showed up right at the level.

A common plan: enter at a buy signal, stop just past the next deeper level, and target the high of the move. A 50% entry has its stop under 62%. A 62% entry has its stop under 79%.

Example numbers, not a real trade

1. Move from $20.00 to $22.00.
2. FU50 fires near $21.00.
3. Stop under the 62% level, $20.76.
4. Target the high at $22.00: about four times the risk.

The Fib alerts measure the move that just happened, not a long-term swing you pick by hand. That makes them a day trading tool: they fire on the pullbacks inside today’s moves, as each level is reached.

A level is not a floor. Deep pullbacks often keep going.

Levels from a small move mean little. Filter for stocks with a real move today.

Test your rules in a simulated account first.

• Buying at a Fib level with no sign buyers are there.
• Using a stop right at the next Fib level, where many others put theirs.
• Trading Fib buys in stocks below their key averages.