There are three reasons for which you might want to enter Prices. They are required for Logarithmic Scaling and for calculating an extension as a Percentage of the prior Retracement (see Fibonacci Price Extensions under Dialogs for more information). You may also want to have ChartOverlay calculate the prices associated with the Fibonacci Levels.

If you have already entered prices for another object, you can ask ChartOverlay to Automatically Calculate Prices. Be careful, however. The calculated prices will be approximate. This is because the points you can specify with the mouse are actually Pixels, which have a width and a height. Depending on the price scale at the right of your chart, each pixel actually represents a range of prices. While ChartOverlay does its best to figure out what you mean, there is no guarantee that it will choose the correct price from among many possibilities.

You can also Specify Prices yourself (the only choice if no price information is available yet). In this case, First corresponds to the beginning of the line that you drew and Second corresponds to the end.

The Fibonacci Levels button lets you specify which Retracement Levels you want to see. You can choose standard levels or you can enter your own.

Choose End of this Move if you wish to see Fibonacci Levels tacked onto the end of this move. If you choose this option the Fibonacci Levels button will let you specify Extension Levels as well as Retracement Levels.

Choose End of Retracement if you want to specify Fibonacci Extensions later in a separate operation. In this case you will select a point below the end of this move as the starting point for calculating extensions.

You can select the Color of your Lines by clicking on the colored square to the left of Lines. To select the Color of your Numbers click on the colored square to the left of Numbers.

You can also change the Style used to draw lines to any of the defined values (Normal, Wide, Dashed, Dotted, Dash-Dot, Dash-Dot-Dot or Invisible). To change the style of the line that you draw use the drop down list to the right of Price Movement Line Style. To change the style of the horizontal lines that ChartOverlay will draw to indicate the Fibonacci Levels use the drop down list to the right of Fibonacci Line Style.

If you are drawing several Fibonacci grids, you may not want your horizontal Fibonacci Level lines to extend all the way across your chart. If this is so, you can specify a Fibonacci Line Length indicating the length (in inches) that you prefer.

Choose Left or Right to indicate at which end of the Fibonacci Level lines you want ChartOverlay to Draw Numbers (or choose Neither if you don't want numbers).

You can ask ChartOverlay to draw any combination of four types of Fibonacci Lines based upon the time/price movement that you drew:

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Fibonacci Price Retracements

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Fibonacci Fans

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Fibonacci Arcs

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Fibonacci Time Extensions

For each of the Fan, Arc and Price studies, you can choose a Color and a Style. You can also choose the Fibonacci Levels you want for that study.

For Price Retracements, use Drawing Options (above) to select Price and Color and Use Fibonacci Options (above) to select Levels.