DTSR is an objective dynamic support and resistance zone channel, Unlike subjective technical analysis DTSR finds S&R zones by calculating a range threshold within a given range over a specified lookback. FIB (Fibonacci) 38.2% and 61.8% retracement zones are also plotted for intermediate zones of resistance / support within the main resistance / support zones.
Plots ▾ <=> Close or high >= Trailing Resistance ▴ <=> Close or low <= Trailing Support HH = The Highest High over the given Lookback period LL = Lowest Low over the given Lookback period Proximal Lines = The trailing S&R zones over the given lookback Distal Lines = The HH or LL over the given lookback
DTSR Formula
note : This idea is not original to me, and was inspired by another creators work