The Fibonacci index is most actively used to calculate support and resistance levels for swings in price. Fibonacci retracement levels use horizontal lines to indicate areas of support or resistance at the key Fibonacci levels before the trend continues in the original direction.

These levels are created by drawing a trendline between the high and low and then dividing the vertical distance by the key Fibonacci ratios of 23.6%, 38.2%, 50%, 61.8% and 100%.

The Fibonacci Retracement indicator can be added to a chart in Tradingview as you can see in the image to the left.

To actually use the indicator you just have to click at the low of the wave and then click on the peak. After you do that you will get something like this.