Fibonacci retracement
Fibonacci sequence · 38.2 / 50 / 61.8 / 78.6% retracements
What it measures
Measures how much of a recent advance (or decline) has been given back, to judge whether the move is still alive. The 38.2%, 50%, 61.8% and 78.6% levels are used as the marks.
How TickTurn reads it
We take the high and low of the last 60 trading days and work out the retracement. Within 38.2%, or holding around 61.8%, is read as the move still intact, so we side with the original direction. Around 50% and 78.6% is treated as too unclear to call, so neutral. Past 78.6% the swing is considered broken, and we take the **opposite** side.
That judgement is made on closed daily bars only; a bar still in progress is left out, because including it makes the same symbol change its answer within the day. On the result screen this indicator holds one vote out of 21.
It is not an answer on its own
If one indicator could call tomorrow, everyone would use only that one. TickTurn asks 21 of them together not because any single one is trusted, but to show plainly where they disagree. Even the combined score, measured against the right baseline, came out only a shade better than chance — the scoring is written up in how we tested.