Turtle Soup Indicator in ICT Style for MetaTrader 4 Download - Free - [TFlab]

The Turtle Soup Indicator for MetaTrader 4 is one of the trading patterns used in the ICT (Inner Circle Trader) style.

This indicator can detect fake price breakouts (Fake Breakouts), and if the price conditions are suitable, it provides a signal to enter a trade in the opposite direction of the trend.

Therefore, Turtle Soup is ideal for reversal trades. This indicator is simple in appearance and divides fake breakouts into Internal and External categories.

Additionally, new highs are labeled with "HH" and new lows with "LL." Green lines are drawn by connecting these highs and lows. These green lines function similarly to a ZigZag pattern.

Indicator Specifications Table

Turtle Soup Indicator in an Uptrend

According to the price chart of USD/CAD in the 1-hour, the price has broken below the support level. Turtle Soup identifies this breakout and signals a buy trade with a green arrow.

If the price rises above the support level, it indicates an opportunity to enter a long position, as the breakout is fake, and the price is likely to reverse upward.

Turtle Soup Indicator in a Downtrend

According to the price chart of Binance Coin in the 4-hour timeframe, the price has broken above the resistance level. The Turtle Soup pattern detects this breakout and signals a sell trade with a green arrow.

Indicator Settings

• Theme: Chart display settings;
• Minor Trend Calculation Type (ZigZag - Candle Close): Type of minor trend calculation based on candle close;
• Show Minor Trend ZigZag: Display the minor trend ZigZag;
• Show Major Trend ZigZag: Display the major trend ZigZag;
• Show External Signal: Display external signal.

Conclusion

The Turtle Soup Indicator for MetaTrader 4 identifies two types of fake breakouts: internal and external. Turtle Soup is one of the important patterns in the ICT trading style.

This indicator helps traders avoid losses by displaying fake breakouts and marking liquidity hunt areas for trade entry signals. It is used in cryptocurrency, forex, stocks, and commodities markets.