Quantifying Ranges:

A range can be defined as any leg of price existing between two swings.

Note the range below did not take any liquidity in the form of a swing.

It is simply a swing high to a swing low. A trading range (as I define it) is where we take one side of the market but not the other.

Note the range below took sellside liquidity (however minor, we are being very mechanical and rigid here) but did not take buyside liquidity.

This range has a very soft bias of bearishness, as the market simply broke lower.

More experienced traders understand that the swing that was broken was not a break into the overall structure of the market. Again we are being very strict with our definitions here. Rigid.

Let's start our backtesting exercise with some important definitions and some specific understanding.

But before we even START I want to say something: You can do this. I don't give a shit if you rotate tires, design propulsion engines, cook steaks, count cash, sweep floors, diagnose disease... You get it. It doesn't matter. Anyone can do this if you just know how. On to the definitions.

Subjective - based on or influenced by personal feelings, tastes, or opinions

Objective - not influenced by personal feelings or opinions in considering and representing facts

Edge - a quality or factor that gives superiority over close rivals or competitors

Why is this important and why do you care?

In trading your own psychology fights against you. It happens to all of us even if you don't realize it. Yes, I mean that literally.

So in order to combat our own psychology, and to prove we have an edge, we can gather data. This enters us into a decision and philosophical point:

Is your system objective (mechanical) or subjective (your own conscious/subconscious influence)?

Objective or Mechanical (these terms are basically interchangeable) just means every single thing is defined. There's no room for interpretation. You and I will both get the EXACT SAME results. Subjective means you use judgement (careful of that old subconscious creeping in...) to determine specific things. This is MOST COMMONLY if the situation is "bullish" or "bearish." Don't believe that something so simple can be so complicated? Gather 5 traders. Ask them to define bullish and bearish. You'll see straight away. Don't get intimidated. You're armed with the definitions and all the understanding you need to get started already! You're practically a Market Wizard at this point!

Let's get organized using something all of us are immediately familiar with: ICT's 2022 YouTube model (PAM 13).

Date - The date the trade took place
Killzone - Asia, London, New York AM, London Close, New York PM
Timeframe - M15, M5, M3 and so on
Time of Validation - When the trade was confirmed, or in this case when MSB/MSS occurred with a FVG
Time of Entry - What time you entered the trade
MAE - Maximum Adverse Excursion, or an overly fancy way of saying how far the trade went against you
MFE - Maximum Favorable Excursion, or an overly fancy way of saying how far the trade went in your favor

By popular request:

My hand selected ICT Charter videos. There are 290 videos at just under 253 hours. Nothing is missed, there are no date mistakes, there are no duplicates in the images except for the top one starting in the second image to show there's no break in continuity.

When ICT drops the material make no mistake - every pirated compilation you've seen is incomplete. This is not.

1.) Who is this for? Whoever.
2.) How did you select videos? Simple. Two criteria made a video viable for selection. Either the first time a concept/rule/logic/whatever was introduced or if I felt the video was particularly good
3.) Are these videos for sale? These videos will be posted by @I_Am_The_ICT for free on his YouTube. Do not pay for them
4.) Why did you put the watermarks on there? Because I'm petty and this was a rewatch of all 750 hours of mentorship while building algorithms for @SynapsesTech_ and private use
5.) Is anything not included that would make a complete list? Yes. Mastering Scalping series, the core content, all of the Price Action Model videos, the 2022 YouTube mentorship, and the 2023 YouTube mentorship

Enjoy, and GLGT