Comprehensive Trading Toolkit [BigBeluga]

Trading Toolkit [BigBeluga] is a comprehensive indicator inspired by the trading strategies of the renowned crypto influencer Michaël van de Poppe. This tool combines RSI divergences, correction zones, and advanced support/resistance levels to provide traders with a robust framework for analyzing market movements.

🔵Key Features:

• RSI Divergences on Chart:
• Automatically identifies and plots RSI divergences (bullish and bearish) directly on the main price chart.
  
• Green lines indicate bullish divergences, suggesting potential upward reversals.
  
• Red lines indicate bearish divergences, signaling possible downward movements.
  
• Correction Boxes:
• Traders typically define a correction as a drop in value of 10% or more. This drop can happen over a few hours or a few days. Also, it can last for less than 24 hours or many months.
  
• This indicator visualizes corrections with blue shaded boxes, triggered by a percentage decline defined in the settings.
  
• The boxes highlight sharp price drops, helping traders identify significant market movements quickly.
  
• Advanced Support and Resistance Levels:
• Dynamically detects key support and resistance levels based on price pivots.
  
• When the price is above a level, it plots a green shaded area from the cross point, marking support.
  
• When the price drops below a level, it plots a red shaded area, highlighting resistance.
  
• Dashed lines indicate weaker levels, while solid lines represent stronger, more reliable levels.
  

🔵Usage:

• Identify Divergences: Use plotted RSI divergences to detect potential market reversals and align them with price action.
  
• Analyze Correction Zones: Utilize correction boxes to evaluate significant price declines and find potential buying opportunities during these corrections.
  
• Leverage Support and Resistance Levels: Confirm breakouts, reversals, or consolidation zones with the color-coded areas.
  
• Enhance Risk Management: Combine divergences and correction zones to set informed stop-loss or take-profit levels.
  

Trading Toolkit empowers traders with actionable insights into market trends, corrections, and support/resistance dynamics, making it an invaluable tool for crypto and forex markets.