Drawing Fibonacci retracements on OKX starts with switching the chart to TradingView
On this page
On the web, open the spot or futures trading page and the tool is in the TradingView chart, under Gann and Fibonacci Tools (the four horizontal lines on the left). In the app, go into the gear settings on the candlestick chart first, set Chart display to TradingView, then return to the chart and tap the four horizontal lines on the left.
With the tool selected, find a rise or a fall that has already played out on the chart and click twice: once on the lowest point of that move, once on its highest point.
Where the Fibonacci tool is in the OKX app and on the web
The OKX help center article How do I use and adjust the candlestick chart? gives the steps for both the app and the web, and they apply to spot and futures alike. In the app, tap through in this order:
- Tap Trade, then choose Spot or Futures.
- Tap the candlestick chart icon in the upper right corner to open the candlestick chart page.
- Tap the gear icon on the right and, under Chart display, select TradingView.
- Go back to the candlestick chart page and tap the four horizontal lines on the left side of the chart to set up Fibonacci retracements.
On the web: select Trade, choose Spot or Futures, and in the TradingView chart pick Gann and Fibonacci Tools, the four horizontal lines on the left side of the candlestick chart.
If the candles disappear after you set a Fibonacci retracement, select a period at the top of the candlestick chart to bring them back into view.
Fibonacci does not live in the same menu as everyday indicators such as moving averages and Bollinger Bands, which are covered in Setting up the chart on OKX: a beginner's step-by-step. In the app, indicators are added from Settings → Indicators on the right of the candlestick chart. Fibonacci counts as a drawing, so it is in the toolbar on the left of the TradingView chart.
Which two points should a Fibonacci retracement connect?
TradingView's help center explains the tool like this: connect two extreme points, the low and the high of the move, then divide the vertical distance between them with horizontal lines.
Which stretch to use depends on which pullback you want to study. When a rise has finished and price starts to fall back, connect the start of that rise to its peak. For a bounce after a decline, connect the start of the decline to its lowest point. The example below takes the move's highest and lowest prices.
0% and 100% are pinned to the two ends of the trend line you draw, so if you swap the order of your clicks, the labels at the two ends swap as well. If the direction comes out upside down, there is no need to delete it and start again: tick Reverse in the Style settings and the whole set flips vertically. A click that lands slightly off is just as easy to fix. Under Coordinates in the properties, enter a bar number and a price for Price 1 and for Price 2, and both ends are pinned exactly where you want them.
The retracement tool draws its own trend line between the two points, and the Trend Line checkbox in Style shows or hides it. To choose the two points, pick them the same way you would when you draw a trend line. If the chart built into OKX is missing any of the settings above, trust what your own screen shows.
The 23.6%, 38.2% and 61.8% lines are measured back from the gap between two points
The tool can hold 24 levels, and each has a checkbox in front of it so it can be switched on or off by itself. The key levels are 23.6%, 38.2%, 61.8% and 100%, and every level is placed by multiplying the price gap between the two points by its ratio.
Say a coin rises from 60,000 to 70,000, a gap of 10,000. Measuring back from the 70,000 high, each line lands at 70,000 − 10,000 × the retracement ratio:
| Retracement ratio | Distance back from the high | Price where the line lands |
|---|---|---|
| 23.6% | 2,360 | 67,640 |
| 38.2% | 3,820 | 66,180 |
| 61.8% | 6,180 | 63,820 |
| 100% | 10,000 | 60,000 |
Values between 0 and 1 are internal retracement levels. Values above 1 are external retracement levels, and measured the same way they fall below 60,000; values below 0 are extensions and land above 70,000.
What makes these lines useful is that, while price is moving back from the original rise or fall, they can act as reference points for support and resistance, and they are the levels to watch during a pullback or a counter-trend bounce. The thinking behind them is that after a move, price will often retrace part of the way back toward where it came from. A level that used to be resistance may turn into support, and the reverse happens too.
Will price bounce when it touches 61.8%?
When price reaches the area around the 61.8% line, more than 60% of the move has been given back. Whether it bounces or keeps going from there cannot be read off the line, and the line has no answer for when price will reach which level either.
Every retracement line is calculated from the two points you clicked. Pick a different move or a different high and the whole set shifts; on the same chart, two people who choose different highs and lows end up with different lines. Like other technical analysis tools, Fibonacci works on prices that have already traded, and choosing the two points already carries the judgment of the person drawing.
Retracement lines mark reference levels, and price may cut straight through any one of them. Crypto prices swing hard, and with leverage on futures, a short move against you could wipe out all of your principal.
How to change a retracement once it is on the chart
Can I add a 50% level to a Fibonacci retracement?
Yes. Under the additional levels in the Style settings you can type a custom ratio and give each level its own color and opacity, so 50% can be added the same way, with the checkbox on its left deciding whether it shows. 50% is not one of the key levels, so putting it on the chart is your own drawing choice.
Should I turn on log scale when drawing Fibonacci on crypto charts?
For highly volatile assets such as crypto, be sure to tick “Fib levels based on log scale” in the Style tab; once it is ticked, the levels are calculated in a different way. The option only works when the chart itself is on logarithmic scale, so switch the chart to log scale first and then come back to Style to tick it.
Can a Fibonacci retracement show only on the daily chart?
Yes, through Visibility in the drawing’s properties. There each intraday and daily timeframe is handled separately, and for every one of them you choose show or hide. Hide it on all timeframes except the daily one, and a retracement drawn on the daily chart appears only there.