Turtle Soup Indicator ICT MT5
- Indicadores
- Eda Kaya
- Versión: 1.12
- Activaciones: 10
Turtle Soup Indicator ICT for MT5
The Turtle Soup Indicator for MetaTrader 5 is a specialized tool aligned with the "ICT" trading methodology. This indicator is designed to detect false breakouts (Fake Breakouts) and identify potential counter-trend trading setups when conditions are favorable. As a result, it is highly optimized for reversal trading strategies.
The indicator simplifies false breakout identification by categorizing them into internal and external classifications. Moreover, newly formed highs and lows are marked as "HH" (Higher Highs) and "LL" (Lower Lows). These levels are then connected with green lines, forming a ZigZag pattern to visualize price movement more effectively.
«Indicator Installation & User Guide»
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Indicator Specifications Table
Category | ICT - Liquidity - Signal & Forecasting |
Platform | MetaTrader 5 |
Skill Level | Advanced |
Indicator Type | Reversal - Range |
Timeframe | Multi-timeframe |
Trading Style | Scalping - Day Trading |
Market | All Markets |
Overview of the Indicator
Within the ICT trading framework, spotting false breakouts is crucial. This indicator identifies key liquidity zones where stop losses are frequently positioned. By marking these liquidity traps, the Turtle Soup Indicator signals potential trade entries using a green arrow. This tool is applicable across all financial markets, including forex, cryptocurrencies, and stocks.
Using the Turtle Soup Indicator in an Uptrend
On a 1-hour price chart of Chainlink, the price initially dips below a support level. The indicator detects this movement as a false breakout and signals a potential buy opportunity with a green arrow. A sharp recovery above the support confirms the price rebound, making it a strong buy setup.
Using the Turtle Soup Indicator in a Downtrend
For the EUR/USD 30-minute chart, the price temporarily moves above a resistance level. The Turtle Soup algorithm identifies this as a false breakout and marks it with a green arrow, indicating a sell opportunity for traders looking to enter short positions.
Indicator Settings
- Theme: Customizable display settings
- Minor Trend Calculation Type (ZigZag - Candle Close): Determines minor trend based on candle close
- Show Minor Trend ZigZag: Toggle display for minor trend
- Show Major Trend ZigZag: Toggle display for major trend
- Show Internal Signal: Enables internal breakout detection
- Show External Signal: Enables external breakout detection
Summary
The Turtle Soup Indicator for MT5 is a powerful tool for identifying both internal and external false breakouts. As a core element of the ICT trading strategy, it effectively pinpoints liquidity hunt zones and helps traders avoid unnecessary losses by providing clear entry signals. Its ability to work across various asset classes makes it a versatile addition to any trader’s toolkit.