The PHI-spiral is a geometrical device for price and time analysis. The PHI-spiral rings can be support or resistance lines. The ultimate goal is to identify the point in price and time, where the crossover of two PHI-spirals is penetrated by the market price.
Left-click the P1 speed button to select the Center of the first PHI-spiral. Click on any point in the chart to select the location of the Center of the PHI-spiral on the chart.
Left-click the P2 speed button to select the Starting point of the first PHI-spiral. Click on any point in the chart to select the location of the Starting point of the PHI-spiral.
Click on the Draw speed button with the right mouse button.
Left-click on PHI-spiral from the list of trading tools. A bullet point will appear next to the word PHI-spiral.
Left-click on the Draw speed button. The selected PHI-spiral will appear on the screen.
Once the PHI-spiral is drawn on the price chart, you can vary the Center by clicking on the P1 button, placing a new point with a left mouse click, and then clicking on the Draw button. If you want to change the Starting point of the PHI-spiral, click on the P2 speed button, place a new point with a left mouse click, followed by left-clicking the Draw speed button.
The PHI-spiral must have the Fibonacci ratio of 1.618. When you start the first PHI-spiral, the default value of the Fibonacci ratio applied may be different from 1.618. To change the ratio, if the Dir button points upward, pressing the Ratio button will increase the Fibonacci ratio in the ratio box. If the Dir button points downward, pressing the Ratio button will decrease the Fibonacci ratio in the ratio box.
To change the rotation of the PHI-spiral, left-click on the Dir button; and the direction of the PHI-spiral will toggle between counterclockwise rotation and clockwise rotation.
To save the PHI-spiral you have drawn on the chart, left-click on the Clip speed button, and the PHI-spiral will be saved on the screen. By saving the PHI-spiral on the screen, you can overlay the first PHI-spiral either with another PHI-spiral or with other Fibonacci trading tools from the menu list.
If you have saved the first PHI-spiral by using the Clip speed button, you can overlay on the chart another PHI-spiral by clicking the P1 speed button, moving the cursor to the new Center of the second PHI-spiral, and left-clicking on the chart. For the new Starting point of the second PHI-spiral, click the P2 speed button, move the cursor right to the new Starting point, and click on the chart with the left mouse button. Left-click the Draw speed button, and the second PHI-spiral will appear on the chart.
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