[2] Its common name "goldback" refers to the light yellow color of the fern's protective coating which inhibits moisture loss.

In response to dry conditions, the leaves curl up with the lower (spore) side outward, presumably to conserve water.

The distribution of P. triangularis includes much of the west coast of North America and extends from Vancouver Island, British Columbia, to Baja California, Mexico, east to Arizona, and in the Blue Mountains of south eastern Washington.

[8] This species is also found on the Pacific island of Guadalupe off the Baja California shore, and plants there may represent an undescribed taxon.

[10][3] In more northerly locations, such as British Columbia and Washington State west of the Cascade Range, it may be found in part shade or full sun mostly on rocky outcrops.