The lines of the upper and lower , the areas are also highlighted.
Customisable Fib Length - Time period over which max and min are chosen.
Offsetfib - Automatically offsets the 50% region and as your entry position
will be some time after the upper and lower are set.
Works well when used in combination with an oscillator which highlights Divergence.
A strategy based off buying the 50% with a defined stop loss and target can be the basis of your strategy.
This tool will automatically plot those points but a defined Risk Management strategy will always be needed.
Works best in trends but will work on all timeframes ( correction in downtrend also possible).
Previous shown but be careful to identify which of the several you are using.
Start at a larger timeframe and move down as necessary.
and retracements are dynamic. Be sure to note your entry and targets.