NakedMarkets Forum

May I ask how to use "Reaches Fibo retracement" properly?
I draw Fibo (option "Use for rule" is checked) and use a rule below, expecting that Backtest should pause, but nothing happens.
How to use it properly?

Hello,

Yes, sure, the rule "reaches fibo retracement" will be triggered once the price will reach any of the Fibo level drawn on the chart, on your Fibo retracement tool.
It will be only triggered if the level is displayed, so in your case, we advise you to edit your Fibo retracement tool and activate "extend to the right". This will extend all the levels to the right of the chart, and the rule will be triggered when the price reaches it.

Unfortunately it doesn't work. The backtest doesn't pause when touching any Fibo levels (even if Fibo levels are correctly extended to price action).

Did you use the Fibo retracement rule for the fibo retracement tool ?
Because the fibo retracement and fibo extension rules will only work with related objects.
Here is a video we made few minutes ago, showing how it works :
https://www.youtube.com/watch?v=YKFgfkVd3vc

The levels can be moved, activated/deactivated or modified, the rule will be triggered when the price reaches the level.

Thank you for your reply.
The problem is that sometimes it works, sometimes not, I haven't catched the rule yet.
You can try drawing Fibo several times (not reusing previous one) - and I think you would also spot instances when it doesn't work.

Example below (image and attached backtest).
When you hit play, it should pause at the levels and it will not pause at any of them.

Thanks for your additional information and backtest file.
We found the issue and fixed it. It will be available in the next release.
The template saving process for FiboRetracement was storing wrong information about the rule management and the related levels.
So a temporary workaround, while waiting the coming release, would be to save a template for Fibo retracement objects and apply it after having created a new fibo object, not convenient but little workaround.