In the terminal MoonBot in the button “Pencil” there is an element of drawing “Fibonacci levels”, what is it for?

Drawing elements are activated in the PRO version of the MoonBot terminal if the Moon Scalper module is available and the “Pencil” button is enabled. Inside the menu “Pencil”, there is a drawing element “Fibonacci levels”, which is set on the chart when you press the CTRL button on the keyboard, and you need to select the bottom point of the chart or the top, click the left mouse button and holding it drag up or down, stretching the Fibonacci grid to the desired height. The levels will be marked with 0 / 0.236 / 0.382 / 0.500 / 0.618 / 0.786 / 1.000 / 1.618, the areas between them are colored for easy perception. In addition the level 1.618 can be extended further from the whole grid by pressing CTRL and left-clicking on the 0.618 level line. You can read more about Fibonacci levels on the Internet, but to make a long story short, price often goes from one Fibonacci level to the next and many traders use it in their trading. In the same menu you can choose the type of line, its thickness, color and transparency, as well as set sound alerts that will signal when the price crosses these lines.