How to read the chart of fibonacci_retracements?

Expert Advisors & Indicators
1

Hello,

Can you please teach me how to read the chart of fibonacci_retracements?
Thanks.

2

fibonacci_retracement is an indicator in our trading platform.
You can add it to the charts by picking it up from the toolbar menu.
It’s based on ZigZag.
You can see several slashes in the separate window.
The highest value of each slash stands for the current retracement level compared with the latest ZigZag line.
If the value is close to 0.382, 0.5, 0.618, the market movements may step back.
I recommend you use ZigZag simultaneously to watch the market.

3

Thank you for your help.

4