Manually drawing Fibonacci retracements is a slow process, and it is easy to get wrong. You have to find the exact swing high and low, drag the tool, and often keep adjusting it as the market moves.
We introduced the Auto Fib indicator to reduce this friction. It gives you objective, mathematical levels instantly, so you don't have to draw it yourself.
What it does
Auto Fib automatically detects the relevant high and low points in your current timeframe and plots the standard retracement levels (23.6%, 38.2%, 50%, 61.8%, 78.6%) for you.
The main advantage is that it is dynamic. As the market moves:
If the price makes a new high or low, the indicator automatically redraws the levels to match the new range.
You don’t need to delete old drawings or drag lines to new candles.
How it works
The logic is straightforward. The tool looks back over a set number of bars (the default is 265 candles).
It finds the lowest low and highest high in that period.
It sets these as 0% and 100%.
It calculates and plots the retracement levels in between.
A quick example
Let’s say you are trading NIFTY on a 5-minute chart. The index rallies 100 points and starts to pull back.
Instead of guessing where the pullback might stop, you turn on Auto Fib. It instantly marks the 50% retracement level. You can see right away if the price is respecting that zone or falling through it.
Where to find it
This is available on FYERS Web, FYERS App, and FYERS Trader.
Open your chart.
Go to Indicators.
Search for Auto Fib and select it.
It’s a simple utility that saves you time and keeps your charts accurate. Give it a try.