Turtle Soup Strategy
(ICT Version)
Backtesting Reimagined
Educational Components
Fair Value Gap (FVG): Non-overlapping wicks before and after a candle.
Change in state of deliver (CISD): Premium/Discount: useful to see
Closure past body of recent price leg if price has rebalanced or not
New Week Opening Gap (NWOG): Time-based liquidity (TBL):
Gap in price between Friday’s close session H/L, previous day H/L
and Sundays open. (aka PDH/PDL or BSL/SSL)
Strategy Details
General parameters: 5m time-frame. NQ/ES, entries in NY am session ideally
after 9:30am NY time. Could also test with other assets and sessions as it’s a
pretty flexible model.
Indicators within FX Replay:
Session Indicator NY (London session 3-8am NY time)
Session Indicator (Asia session 0-6am UTC)
Silver bullet indicator (2-5 NWOGs)*
FVG indicator by FX Replay
Identifying Bias: After market open, try to identify what liquidity price is likely
targeting next. This will take some practice, but relying on TBL, NWOGs, and
premium/discount will give you a good framework to identify bias.
After time-based liquidity (TBL) sweep, there is often a reversal.
After a large move, price needs to rebalance (Trader Kane’s bias style)
NWOGs can serve as draws on liquidity as well as support/resistance
Entry Trigger #1 CISD Retest (reversal): After a TBL sweep, wait for CISD,
enter on a CISD retest with SL at recent H/L. Internal highs/lows, FVGs, or
premium/discount rebalance can serve as take profit targets.
*On tradingview, weekly opening gap by cryptonnnite is good for NWOGs.
Strategy Details
Entry Trigger #2 FVG retest (continuation): Once a clear draw on liquidity
is identified, look for a FVG to retest for continuation. Stop loss at the H/L of
the candle that formed the FVG, fixed 2R TP.
Take Profit: Feel free to play around with various TPs, you can always
optimize with the FX Replay RR simulator. For simplicity, aim for ~1.5-2R
for CISD retests and a fixed 2R for FVG retests.
Trade management: For simplicity, no trade management.
Other rules & considerations:
For beginners: done for the day after one win, max 2 attempts per day.
If you’re not confident in directional bias, it’s ok not to trade that day
Ignore doji candles or small-bodied candles when looking for CISDs.
Cancel limit orders if targets hit before entry.
If there are multiple FVG in a row, use the first one unless you’re
confident right after market open that the more recent one will hold.
Don’t take continuation trades near TBL (don’t short if it’s too close to
sell-side liquidity or long if price is too close to buy-side liquidity)
"Trading is not about being right all the time, but about staying
disciplined every time."
Strategy Details
CISD Retest Trade Checklist
Wait for time-based liquidity sweep
(i.e. Asia/London high or low)
Reversal bias
Limit entry on CISD retest, target
opposing liquidity for 1.5R+
FVG Retest Trade Checklist
Identify likely next draw on liquidity
after price already started a reversal
Limit entry on FVG retest (entry)
Stop loss at candle H/L that made the
FVG, 2R fixed take profit
Remember, if any of the parameters are
missing, the trade quality is reduced. Aim to
only take A+ setups!
Examples
Now that you have a
profitable strategy
it’s time to practice! Luckily, we have a platform you can do
that for FREE.
Start Backtesting Now
What are you
waiting for? You have your strategy. Now all you have to do is test it! Start collecting data on your new
strategy for FREE by clicking here