Turtle Soup - SR BREAKS AND RETEST | Dante123456

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PS
Kindly read the desciption through;

ICT TURTLE SOUP AND SUPPORT AND RESISTANCE BREAK & RESEST INDICATOR

First and foremost i would like to credit the following : fluxchart for the open souce script on ICT TURTLE SOUP indicator as well as ChartPrime for the open source Support and Resistance breaks and retest indicator.This indicator combines the 2 and also adds the Bollinger Bands for added entries refinement.
Here is how to use them:

ICT TURTLE SOUP
The ICT Turtle Soup strategy is a trading approach that capitalizes on false breakouts near key liquidity levels, aiming to identify potential market reversals. It provides traders with visual cues and signals to facilitate its application.
Understanding the ICT Turtle Soup Strategy
The strategy focuses on liquidity areas—zones with a high concentration of buy or sell orders, typically found at recent highs and lows. A false breakout, or liquidity sweep, occurs when the price briefly moves beyond these levels, triggering stop-loss orders, before reversing direction. Identifying such movements can signal potential entry points for trades.
Features of ICT Turtle Soup Indicator
This indicator offers several functionalities to assist traders:

• Liquidity Zone Identification: Automatically marks higher timeframe liquidity zones, highlighting areas where false breakouts are likely to occur.
  
• Market Structure Analysis: Assesses the current market structure to determine trends and potential reversal points.
  
• Entry and Exit Signals: Provides buy and sell signals based on detected liquidity grabs and market structure shifts.
  
• Take-Profit (TP) and Stop-Loss (SL) Levels: Calculates TP and SL levels using the Average True Range (ATR), allowing for dynamic risk management.
  
• Backtesting Dashboard: Includes a dashboard to evaluate the performance of the strategy over historical data.
  
• Alerts: Offers customizable alerts for buy, sell, TP, and SL signals to keep traders informed in real-time.
  

USAGE:

• Identify Liquidity Zones: The indicator will highlight potential liquidity zones on the chart, based on higher timeframe analysis.
  
• Monitor for Signals: Watch for buy or sell signals generated when the price performs a liquidity grab and a market structure shift is detected.
  
• Execute Trades: Upon receiving a signal, consider entering a trade in the indicated direction. Use the suggested TP and SL levels for risk management.
  
• Backtesting: Utilize the backtesting dashboard to assess the strategy's performance with your chosen settings, enabling data-driven adjustments.
  

Considerations

• Timeframes: For optimal results, it's recommended to use the indicator on timeframes such as 15-minute, 30-minute, or 1-hour charts, with higher timeframe liquidity zones identified on 1-hour or 4-hour charts.
  
• Market Conditions: The strategy is particularly effective in markets prone to false breakouts. However, it's essential to be cautious in highly volatile or illiquid markets where false signals may occur
  

SR BREAKS AND RETEST {HIG VOL BOXES}
The Support and Resistance (High Volume Boxes) is a tool designed to help traders identify key support and resistance levels by analyzing pivot points and volume data. It visually represents these levels using dynamically colored boxes, providing insights into potential price reversals and key zones for trading opportunities.

Key Features:

Dynamic Support and Resistance Boxes: The indicator plots boxes based on pivot points and volume thresholds. The color intensity of these boxes varies with volume, reflecting the strength of the support or resistance. Green boxes indicate support levels with positive volume, while red boxes denote resistance levels with negative volume.

Hold Signals: Green diamonds (◆) appear when support holds, signaling potential buy opportunities. Red diamonds (◆) appear when resistance holds, indicating potential sell opportunities.

Breakout Labels: Labels such as "Break Sup" and "Break Res" are displayed when support or resistance levels are broken, highlighting significant market movements.

Using the Indicator:
Configure Settings: Adjust the following parameters to suit your trading preferences:

Lookback Period: Determines the number of bars to consider for pivot points.

Delta Volume Filter Length: Sets the length of the volume filter for accurate analysis; higher values filter out low-volume boxes.

Adjust Box Width: Modifies the width of the support and resistance boxes; higher values result in thinner boxes.

Incorporating the Indicator into Your Trading Strategy:

Identify Key Levels: Use the colored boxes to spot strong support and resistance zones, which can serve as entry or exit points.

Monitor Hold Signals: Pay attention to the diamond symbols indicating when support or resistance holds, as they suggest potential buying or selling opportunities.

Watch for Breakouts: Observe breakout labels to identify significant market movements and adjust your trading strategy accordingly.

By integrating this indicator into your trading routine, you can enhance your ability to recognize critical market levels and make more informed decisions. It's essential to combine this tool with other analyses and risk management practices to optimize your trading performance.
PS
Use both the indicators as well as the Bollinger Band to execute better trades, i have just twerked the script a little bit,