# Fibs from Prior Day

The Fibs from Prior Day display Fibonacci retracements and expansions calculated from the prior day high and low. The high and low points can be measured from daily data or from intraday data. When measured from the daily data, the order of the retracements may be inverted, if highs and lows were made on the same day.

### Indicator Description

The Fibonacci levels from the Prior Day can be defined individually. If you want to eliminate certain levels, simply set the value for these lines to zero. Should you wish to add further retracement or expansion levels, this can be achieved by adding several instances of the indicator to your chart.

Fibonacci levels refer to areas of support or resistance levels calculated by using the Fibonacci sequence. A central concept here is what’s called the Golden Ratio, which refers to 1.618 and it’s inverse .618.

The Italian mathematician, Leonardo Fibonacci (1170-1250), is credited for bringing the sequence to the West. Using the sequence, Fibonacci noticed that certain ratios could be calculated, corresponding to “divine ratios” found throughout nature and art.

Fibonacci levels are used to identify potential reversal and extension scenarios. Following a strong uptrend, the levels are used to predict the extent of a pullback. The same can be done during a downtrend, i.e. evaluating how far a counter-trend bounce may retrace. The Fibonacci levels from the current day are found by measuring the distance between the day high / low and dividing the vertical distance by the key Fibonacci ratios. The most commonly used retracement levels are 38.2% and 61.8%. Although the 50% retracement is not part of the Fibonacci sequence, it is almost always included as a point of reference (half the range).

#### Other Library indicators

Our Indicator Library for NinjaTrader 8 has a separate category with Fibonacci indicators, including the Current Day Fibonacci Lines / Prior Day Fibonacci LevelsCurrent Week Fibonacci Lines / Prior Week Fibonacci Levels, the Current Month Fibonacci Lines / Prior Month Fibonacci Levels and the Current N Month Fibonacci Lines / Prior N Month Fibonacci Levels. Our Indicator Spotlight also discussed Fibonacci Retracements specifically. Additionally, this category also contains the Fibonacci Bands indicator.

Additional support resistance indicators can be found in our session tools category, including the Standard Daily Pivots / Camarilla Pivots Daily / Rolling Daily Pivots, Standard Weekly Pivots / Camarilla Pivots Weekly / Rolling Weekly Pivots, Standard Monthly Pivots / Camarilla Monthly Pivots / Rolling Pivots Monthly and the Standard N-Monthly Pivots / Camarilla N-Monthly Pivots.

Our Indicator Spotlight furthermore discussed the Daily Pivot Levels.

The indicator is available for NinjaTrader 8.