Customize Fibonacci Levels on Tradovate Charts
A Fibonacci retracement is only as useful as the levels sitting on it. Here's how to add and edit custom Fibonacci levels on Tradovate charts, step by step.
A Fibonacci retracement is only as useful as the levels sitting on it. Maybe you trade the 50% and 61.8% and nothing else, or you want the 78.6% plus a couple of extension targets above the swing. Tradovate lets you set all of that on the chart. Pick the tool, draw it across a move, then open its settings and dial the ratios in the way you actually trade them. Here's how to add and edit custom Fibonacci levels, and how to squeeze extension targets out of the same tool.
How Fibonacci Works on Tradovate Charts
Tradovate has a Fibonacci Retracement tool built into the chart's drawing menu, the same place your trendlines and rectangles live. Draw it across a swing and it plots the standard retracement ratios between your two anchors: the familiar 23.6%, 38.2%, 50%, 61.8%, and 78.6% band, bracketed by 0% and 100%. The extension ratios that project past the swing, 161.8% and 261.8%, ship with the tool too but start switched off. There's no separate "Fibonacci Extension" tool to hunt for; you turn those higher levels on in the retracement tool's own settings and it doubles as an extension tool. Every level is a line you can recolor, hide, or edit outright.
Customize Fibonacci Levels on Tradovate: Step by Step
Open the Fibonacci Tool
Hover your cursor over the chart so the toolbars fade in along the upper-left edge, then click the Drawing Tools icon on that vertical strip. The tool menu pops out to the side. Left-click Fibonacci Retracement once to arm it. The tool is now active and waiting for your first click on the chart.
Draw It Across the Swing
Left-click once on one end of the move, say the swing low, then move the cursor to the other end and left-click again on the swing high to drop the retracement. Two clean clicks, not a click-and-drag; a drag just pans the chart. Draw low-to-high in an uptrend and high-to-low in a downtrend, and the levels orient to that direction.
Open the Drawing's Settings
With the fib on the chart, open its settings to get at the levels. Double-click the drawing (or right-click it and choose Settings) and a properties panel opens with the level list and the style controls. If a double-click doesn't do it, right-click the object and look for a Settings or Properties option.
Add, Edit, and Toggle Levels
This is where you make it yours. Each level has a checkbox, a percentage value, and a color. Untick the ratios you don't trade; plenty of people run 38.2, 50, and 61.8 and clear the rest. Tick on the 161.8% and 261.8% extension levels when you want targets projected past the swing. To change a ratio, click its value and type a new one; to change how it reads, set the level and label colors. The tool caps how many custom levels you can stack, but there's room for the full standard set plus a couple of extensions.
Save Your Set as the Default
Once your level set looks right, save it so you don't rebuild it on every chart. In the same settings panel, turn on Save As Default (some builds label it as applying to all drawings of this type). Every new Fibonacci you draw then comes out with your ratios, colors, and extensions already on, so you draw and go.
Extension heads-up: the 161.8% and 261.8% levels project off the same two anchors you clicked. If a target lands somewhere odd, flip the draw direction, which flips where those higher levels point.
Why This Matters
- Trade only the levels you actually use, so your chart isn't a ladder of noise.
- Turn on 161.8% and 261.8% to get extension targets without a second tool.
- Recolor levels so your entry zone and your target zone read at a glance.
- Save your set as default and stop rebuilding the same fib chart after chart.
Automate the Trade Off Your Fibonacci Levels
Marking the level is the planning. Acting on it the second price tags it is the hard part. PickMyTrade turns your TradingView alerts into live Tradovate orders automatically, so when price hits the 61.8% you mapped, the order is already working instead of waiting on your click.
Turn Your Levels Into Live Orders
PickMyTrade turns your TradingView alerts into live Tradovate orders automatically, so your levels trade themselves.
Start Your Free TrialFrequently Asked Questions
No. Extensions live inside the Fibonacci Retracement tool. The 161.8% and 261.8% levels ship with it but start switched off. Open the drawing's settings and tick them on to project targets past the swing you drew.
Yes. In the fib's settings, each level shows an editable percentage, so click the value and type your own ratio. You can also recolor each level and its label. There's a limit on how many custom levels you can stack, so drop the ones you don't use to make room.
Usually it's the draw direction. Levels and extensions are measured from your first click to your second, so a fib drawn high-to-low projects the opposite way from one drawn low-to-high. Redraw from the correct swing extreme, or drag an anchor to the right price.
This guide is for educational and informational purposes only and is not financial, investment, or trading advice. Trading futures and other leveraged products carries a substantial risk of loss and is not suitable for every investor. PickMyTrade is an independent third-party automation platform and is not affiliated with, endorsed by, or sponsored by Tradovate, Inc. "Tradovate" and all related names, logos, and trademarks are the property of their respective owners. Platform features and steps change over time, so always confirm the current process in the official Tradovate platform and documentation before acting.