How to Draw Fibonacci Retracements in MT5 (Mac)

The Fibonacci retracement is a popular tool for estimating pullback depth and target levels. This guide explains how to draw, modify, and configure Fibonacci retracements in MT5 (Mac).

How to Draw a Fibonacci Retracement

To draw a Fibonacci retracement, first switch the cursor to Fibonacci Retracement mode. There are two ways to do this:

Method 1

Select "Insert" → "Objects" → "Fibonacci" → "Fibonacci Retracement" from the menu.

Method 2

Click the Fibonacci Retracement icon on the toolbar.

Once in Fibonacci Retracement mode, the cursor on the chart changes.

Place the cursor on a high or low as the start point (100%), then hold and drag to the next low or high to draw the Fibonacci retracement.

Modifying and Moving a Fibonacci Retracement

Double-click the baseline of the drawn Fibonacci retracement (a red dashed line by default). While it is selected, drag the start or end point to adjust it, or drag the middle to move the whole retracement.

Detailed Settings in the Line Properties Window

Right-click the selected Fibonacci retracement baseline and choose "Properties" from the menu to open the line properties window. You can make detailed adjustments across its four tabs ("Common", "Levels", "Parameters", "Visualization").

"Common" Tab

The "Common" tab lets you set the line's name, description, baseline color, thickness, and type, and choose whether to show the line in the background.

"Levels" Tab

The "Levels" tab lets you set the levels of the horizontal lines to draw. The "Levels" column sets the percentage of each level, and the "Description" column sets the text shown on the line. Use the buttons on the right to add or remove levels, and press "Default" to restore the default values.

"Parameters" Tab

The "Parameters" tab lets you precisely set the start and end points of the baseline by time and price, and choose whether to extend the Fibonacci lines to the left or right.

"Visualization" Tab

The "Visualization" tab lets you choose the timeframes on which the Fibonacci retracement is shown. Uncheck "Show on all timeframes" to show it only on selected timeframes.