Before we commence, there's one thing you should know about on TradingView.com (at least at the moment): they don't scale proportionally to the chart. It so seems there is a miscalculation which fire once you begin to scale the chart. For this reason I would suggest not scaling the chart when using this indicator.
I have used to create V-shapes at the bottoms. Each Spiral is positioned from the lowest low to the past high or future high. From thereon all intersections that have been made in the far future with those spirals have been marked and given colours corresponding the spiral's colours.
I shall elaborate in the near future.
I have yet to do a quantitative approach on this to filter out coincidental hits; but on this example at least the 'bottom to top' drawings have given tops in return; whereas the 'top to bottom' drawing has given a top AND a bottom.
NOTE: for the sake of sanity I shall not yet question whether or not those tops or bottoms are relevant to make any trades at all; whether or not those trades could have been profitable and if it is a retracement reversal.
Here's an example of the difference between drawing the Fibonaci Spirals backward or forward.
At first glance it doesn't seem to matter. But a slight yet distinct difference is shown in my earlier experimenting. At this time I cannot say what that difference means. All that is currently observable within this chart, seems to rather be a fraction of the reason why it is actually observed in the first place.
To do this right click the currency-pair and click 'Lock scale'. This solves any scaling problems you might have with Fibonacci Spirals.
Furthermore: Fibonacci Spirals still don't scale properly when you use Heikin Ashi. That's what I've been using most of the time to cancel out any noise. I did some testing with this and it actually is possible to first go to candlesticks, apply the 'Lock Scale' then switch to Heikin Ashi, and draw the Spirals. This should also fix some issues.
Support stated they'd solve the Fibonacci Spiral issues and get back to me as soon as possible.
Yesterday I saw arcs in the price - I never heard of a fib spiral in trading and proceeded to draw best fit arcs. exploring fib arcs and spirals for the first time this morning I find that my arc perfectly match the fib spirals. In the case I'm trading the spiral are acting as a resistance around the edge of the sprial... ie the bottoms of each by are bounding off the outside of the one spiral and the tops are bounding off the inside of another spiral hence at least in the short term one can scalp between the two 10 pips each way..... this is quite different from the the way you are applying them. I have no idea how often the price tracks the spiral as Ive never noticed it before....