1 If the price is falling to the level will act as support.
2 If the prices is rising towards level,this levels will act as resistance .
3 If the price is falling towards dynamic level but support is broken then SUPPORT become RESISTANCE.
4 If the price is rising towards the dynamic level and resistance is broken then RESISTANCE become SUPPORT.
5 Initiate buy position closer to support levels with stop loss below the .
6 Initiate sell position closer to resistance levels with stop loss above the resistance levels
7 I use 5 min time frame in intraday trading
8 use proper risk and money management
9 This is for educational and learning purposes. Follower take their financial assistance before making any buy/sell decision.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.