ICT Turtle Soup Ultimate V2

The ICT Turtle Soup Ultimate V2 indicator is an advanced liquidity reversal tool designed to detect false breakouts at key swing points using smart money concepts (SMC).

Usage

The ICT Turtle Soup Ultimate V2 is used to identify high-probability reversal zones where "smart money" typically hunts for liquidity. It identifies price action that moves beyond a prior swing high or low but fails to sustain the breakout, closing back within the range.

• Liquidity Grab Detection: The tool monitors user-defined lookback periods to identify significant swing highs and lows. A signal is triggered when price pierces these levels and reverses, signaling a potential stop run.
• Wick Trap Mode: When enabled, this feature specifically searches for long-wick candles that probe liquidity pools and reject them, providing an earlier indication of a reversal before a full candle close might occur.
• Kill Zone Filtering: Traders can restrict signals to specific institutional sessions (London, New York AM, or Custom) to ensure they are trading during high-volume periods when liquidity hunts are most frequent.
• MTF FVG Confluence: This feature allows users to filter signals based on whether price is currently within a higher-timeframe Fair Value Gap, adding a layer of institutional order flow validation.

Details

The script utilizes a combination of volatility-adjusted trend filtering and specific candle behavior to qualify setups. Unlike standard breakout indicators, it looks for the failure of a move.

• ATR-Based Buffer: The trend filter uses an SMA combined with an ATR buffer. This prevents the suppression of signals during minor price fluctuations near the trend line.
• Swing Logic: Swing points are validated by checking if the high/low is higher/lower than its neighbors within a specific lookback, ensuring only prominent liquidity pools are targeted.

Settings

General Settings

• Swing Lookback: Determines the number of bars used to identify swing highs and lows.
• MA Period: Sets the length for the trend-filtering moving average.
• Use Trend Filter: Enables or disables the requirement for price to be on a specific side of the MA for a signal to trigger.
• Require Confirmation Bar: If enabled, the script waits for a subsequent bar to confirm the reversal direction.
• Enable Wick Trap Mode: Toggles the proprietary detection of long-wick liquidity grabs.
• Minimum Swing Distance (%): Filters out minor swing points that are too close in price percentage to prevent noise.

Kill Zone & HTF

• Enable Kill Zone: Restricts signal plotting to specific time windows.
• Kill Zone Type: Choose between London, New York AM, or a Custom session string.
• Enable MTF FVG Confluence: Requires the reversal to occur within a higher-timeframe Fair Value Gap.
• HTF for FVG: Sets the timeframe for the higher-timeframe imbalance check.

FAQ

How do I use the Wick Trap Mode?

The Wick Trap Mode focuses on candles with long wicks that pierce liquidity levels but close inside the previous range. This is often more effective for catching "stealthy" stop hunts where price does not spend much time outside the level.

Can I use this on any timeframe?

Yes, the ICT Turtle Soup Ultimate V2 is versatile, though it is most commonly used for intraday trading on lower timeframes (1m, 5m, 15m) while using the MTF FVG setting to align with higher-timeframe (1H, 4H) structures.

How do I get access to the ICT Turtle Soup Ultimate V2?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.