Fibonacci fans can be used to predict support and resistance levels. MT5 provides traders with the Fibonacci fan line tool. If you want to draw Fibonacci Fans on your MT5 chart, you can read the step-by-step guide below.

Step 1: Click "Insert" in the MT5 menu bar.

Step 2: Click "Objects" - "Fibonacci" - "Fibonacci Fan", and then use the mouse to draw the Fibonacci fan on the chart.