How to Draw Fibonacci Retracements in MT4 (Mac)

Method 1

Select "Insert" → "Channels" → "Fibonacci" from the menu.

Method 2

Click the Fibonacci Retracement icon in the toolbar.

Once in Fibonacci Retracement mode, the cursor will change on the chart.

To draw a Fibonacci Retracement, position the cursor at the starting point (100%) on a high or low, then drag to the next low or high while holding the mouse button.

Double-click on the baseline of the drawn Fibonacci Retracement (red dashed line by default) to select it. Drag and drop the start or end point to adjust, or drag the middle to move the entire retracement.

Right-click on the selected Fibonacci Retracement baseline and choose "Fibo Properties" from the menu to open the line properties window.

The window includes four tabs: "Common," "Fibonacci Levels," "Parameters," and "Visualization," where detailed settings can be configured.

In the "Common" tab, you can specify the line name, description, baseline color, thickness, and type.
You can also choose whether to display the line in the background.

In the "Fibonacci Levels" tab, you can configure the horizontal line levels to be drawn.
In the "Level Settings" column, set each level's percentage, and in the "Description" column, add text to be displayed with the line.
You can add or delete levels using the buttons on the right. The "Default" button resets to the original default settings.

In the "Parameters" tab, you can precisely specify the start and end points of the baseline using time and price values.

In the "Visualization" tab, you can specify the timeframes where the Fibonacci Retracement is displayed. Unchecking "Show on All Timeframes" allows you to display it only on selected timeframes.