@rartintech As you may have guessed, Grafana does not support true dynamic thresholds in the options panel:
I have found that creating another query or transformation is often sufficient. For example, in the screenshot below, I have 2 queries (actual and setpoint). I used simple math transformations (setpoint -20 and setpoint +20) to create the orange lines. I created alerts to notify me whenever the actual value crosses the UCL or LCL.
