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Our automated drawing stencils are divided into two classes. The first class deals with price levels and draws horizontal lines depicting exhaustive support and resistance projections. The second class, which will be available in the future, deals with timing trajectories and draws vertical lines, pitch forks, arcs, and fans.

All stencils initially leverage a modified zigzag indicator to generate pivots within a chosen scale. From there, you decide the pivot sets you deem Fibonacci-worthy in terms of comparable swing size, retracement, and sequence within trend. Although each stencil can display six ratio lines with individual style and color, best practice favors using a balanced stencil mix with fewer, better-choice ratios.

Equally important as auto-creating lines is the ability to auto-delete them when obsolete. Our drawing stencils offer Close Breach, Breakout Bar, or Manual as options for Fib line deletions. There are also options to remove entire Fib frames that later become disqualified based on select pivot violations. You can also set the desired number of trailing frames or those initially plotted per trend direction.

Click the chess piece images below to view a quick illustration of each indicator.


Wave Projections are ratioed distances taken from the most recently completed swing, which are then appended to either the end of that wave or the end of its retracement, to forecast possible exhaustion levels.

Our projection stencil offers a choice of modes as to where to anchor wave ratios. In "STACK" mode, ratios append to the pivot that ended the wave (P2, P4), whereas in "NET" mode, ratios append to the pivot that ended the retracement. (P3, P5).


Fibonacci Corrective Projections forecasts possible exhaustion, similar to Wave Projections, except it projects ratioed distances from the wave's retracement leg rather than the wave itself. Corrective Projections, while not as widely-used as Wave Projections, still receives substantial respect when properly applied. Corrective Projections always retroactively append to the end of the last wave as a continuation.

Both our Corrective Projections and Wave Projections stencils sequentially plot their ratios each time a qualifying pivot set occurs, regardless of trend. Both refresh in "Step Mode" fashion and use the direction of the pivot set to bias the plot location.


Seed Projections are also like Wave Projections in that they forecast possible exhaustion areas by projecting wave ratios. The difference being that Seed Projections retain the calculated ratio distances aquired from the initial wave of the trend and repeatedly append them to each chronological future wave as long as that trend continues.

Our displacement stencil accomodates up to three tiers of seed ratio displacements in either "STACK" or "NET" mode as explained in Wave Projections. Tiers are differentiated by line style, and any tier can be suppressed to avoid redundancies from other stencils.

This versatility allows advanced users to apply select ratios at various pivots within the trend. Since new trends typically develop from head and shoulder and double top/bottom patterns, it's usually also best to set a slightly deeper retracement allowance for this stencil since it is mining for seed waves exclusively.


Fibonacci Retracements are generally used to forecast retracement exhaustion. However, when price is between the high and low points of a trend as it most often is, who’s to say whether the retracement levels from the price point back to the high or to the low is most relevant? The point is, new trends can develop anywhere.

Our Retracement stencil solves this problem using a bi-directional display. This means primary retracement lines build and update while moving in the trend direction, and smaller, counter-trend retracement lines build when retracing. All ratio lines are neatly displayed in ladder format on the right margin of the chart.

There are also two modes called "Trend" and "Session". "Trend" mode, which is the most popular, has adjustments for you to keep the retracement frame aligned to entire trends or to follow portions of trends across sessions. "Session" mode anchors at the session open and displays retracement ratios from the highs and lows made during the current session back to the its open.

Note: For those seeking to strategize on retracements or projections at the swing level, our pattern profiler template provides much greater control over swing selection and target range.