# Fibs from Prior N Months

The Fibs from Prior N Months will display Fibonacci retracements and expansions calculated from the prior N months’ high and low. The high and low points can be measured from daily data or from intraday data. Other than the below description, you may also review our Indicator Spotlight on the Fibonacci Retracement Levels (with video).

### Indicator Description

You may define the Fibs from Prior N Months individually. For a specific Fibonacci retracement strategy, you may therefore eliminate certain levels by setting the value for these lines to zero. If you want additional retracement or expansion levels, you may do so by adding several instances of the Fibs from Prior N Months indicator to your chart. Also, you may use the N Monthly Fibonacci levels to create current bi-monthly, quarterly, bi-annual and yearly Fib levels.

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. You may achieve the same during a downtrends, 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 turning points for a Fibonacci retracement strategy are 38.2% and 61.8% levels. Although the 50% retracement is not part of the Fibonacci sequence, it is almost always included as a point of reference (half the range).

#### Leonardo Fibonacci

Fibonacci retracements refer to areas of support or resistance levels calculated by using the Fibonacci sequence. Leonardo Fibonacci (1170-1250), an Italian mathematician, is credited for bringing the sequence to the West. Using the sequence, Fibonacci noticed that certain ratios could be calculated. Throughout nature, architecture and art, he found them corresponding to “divine ratios”. Specifically, Fibonacci mentions the Golden Ratio, referring to 1.618 and it’s inverse .618.

#### Other Library indicators

Our Indicator Library for NinjaTrader 8 has a separate category with Fibonacci indicators, including the 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.