Dynamic S/R Zones Pro [By TraderMan]

Dynamic S/R Zones Pro [By TraderMan]

Short pitch:
Dynamic S/R Zones Pro automatically maps support and resistance levels using pivot highs/lows and draws surrounding zones. It displays lines, labels and a table — making it fast to spot relevant price areas on your chart. 📊✨

🔎 What does this indicator do?
Detects pivot highs/lows and converts them into dynamic S/R levels.

Draws a zone around each level (upper & lower bands) so you can see the interaction area. 🟢🔴

Counts how often each level was tested and writes that “strength” in the table — so you can prioritize levels.

Fully configurable colors, line styles, zone width and table display. 🎛️

Note: Pivot-based S/R is a widely used, objective way to map price levels — see pivot basics.
Investopedia

⚙️ How it works (technical)
Uses pivotRange = 10 to search for highs/lows inside that window.

Looks back analysisPeriod (284 in your script) and selects meaningful pivots; filters by strengthSR threshold.

channelPercent and zonePercent define band thickness (zone), with zoneWidthPercent applied over the last 300 bars.

Strength = number of times price tested that band; used for filtering and the table.

High/Low Zones option draws wide reference bands around the period’s highest/lowest pivots.

(Pivot logic here is pivot-based SR mapping — not classical static pivot formulas, but the same principle of marking widely watched price levels.)
Investopedia

🛠️ How to use (step-by-step)
Enable SR: toggle S/R drawing on/off.

Strength (strengthSR): increase to show only well-tested levels, decrease to show more levels.

Line Style / Width: readability and aesthetics.

Show Zones / Zone Width %: enable zones and set width (e.g. 2% of recent range).

Show High/Low Zones: draw wide reference zones for the highest/lowest pivots.

Extend SR: extend lines across the chart (past/future) for clarity.

Show Table: display levels, zone boundaries and strength in the top-right table. 📋

🎯 Trade entry ideas (examples)
Not financial advice — examples of how traders commonly use S/R zones.

1) Bounce Long (support zone buy)
Condition: Price arrives at a support zone and shows a bullish confirmation candle (e.g., hammer, bullish engulfing).

Extra confirmation: oversold RSI or supportive volume.

Entry: on confirmed candle close (market or limit).

SL: slightly below the zone’s lower band.

TP: next resistance or target R:R ≥ 1:2. (Retest confirmations reduce false-breakout risk.)
fxopen.com
Investopedia

2) Breakout Long
Condition: Price breaks resistance with increased volume.

Tactic: wait for a retest of the broken resistance (now support). Enter on confirmation.

SL: below the retest low or zone lower band.

TP: next zone / predetermined R:R target. Breakouts need volume/retest confirmation to avoid fakeouts.
Investopedia
fxopen.com

3) Scalp
Use narrower zones, smaller TF, very tight SL and smaller R:R (e.g., 1:1), account for spreads/fees.

🛡️ Risk management
Don’t risk too much per trade — follow a fixed % (e.g., 1–2% max).
cmegroup.com

Plan SL & TP before entry; avoid emotional adjustments.
Investopedia

Calculate risk/reward; aim for a favorable R:R and backtest your rules.
CenterPoint Securities

✔️ Practical tips
Filter by strength to remove noisy levels.

Timeframe matters: higher TF = stronger levels.

Combine with other indicators (volume, RSI, MAs) for better confirmation.

Backtest the script and your entry rules before deploying live.

Quick summary: Dynamic S/R Zones Pro is a pivot-based S/R & zone mapper that highlights strong levels and helps you trade bounces, breakouts and retests — but always use SL/TP and solid risk management.
Investopedia
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Investopedia
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fxopen.com

Disclaimer: Not financial advice. Trading involves risk. 🔒