Advanced Fibonacci calculator comes with a filter that can be used to keep track of nearest Support and Resistance levels from Current price.
Lets consider the Nifty rise from 6212 to 6334. Enter these values in “To” & “From”. Now enter the current Nifty quote in the box “Current Quote Here”. If you set the filter at 0.5%, the calculator will highlight all the retracement values within (+)0.5% to (-)0.5% of current Quote.
If you are considering multiple rise and falls for retracement then you just look at the highlighted values (which may act as your immediate support or Resistance).
For a day trader, it can be very useful tool.
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