ICT Decoded · Change in State of Delivery (CISD)

What Is a Change in State of Delivery (CISD) in ICT Trading?

By Steve H — reads every firm’s official rulebook, checks prices and codes daily, and maintains the Enigma Score · Methodology · Editorial policy · Last updated October 31, 2026

ICT concepts were created and are taught by Michael J. Huddleston, The Inner Circle Trader (X · YouTube). This lesson is FundedEnigma’s own summary, not affiliated with or endorsed by ICT.

In short: An ICT change in state of delivery (CISD) is a candle body closing back through the opening price of the run of candles that made the last high or low. A close below the open of an up-close run is bearish; a close above the open of a down-close run is bullish.

How to Spot a CISD (The First Sign the Market Turned) | ICT Change in State of Delivery · 6:38 · published October 31, 2026 · part of the ICT Concepts Decoded playlist

Watch the video

The full video is embedded above this article: How to Spot a CISD (The First Sign the Market Turned) | ICT Change in State of Delivery. This page is the written version, with every chart walked through step by step. Jump to any part of the video:

0:00 Intro
0:45 What a CISD is
1:39 CISD vs market structure shift
2:16 Checks and invalidation
2:56 Example 1
4:00 Example 2
5:00 When a CISD fails
5:52 Recap

Key facts: the change in state of delivery at a glance

Term	What it is	How it is used
The run	The consecutive same-close candles that made the high (up-close) or the low (down-close)	Where the move was delivered from
The level	The opening price of the first candle in that run	The price the close must get back through
Bearish CISD	A body close below the open of an up-close run	Delivery switches from buyers to sellers
Bullish CISD	A body close above the open of a down-close run	Delivery switches from sellers to buyers
What makes it count	The push that made the extreme took stops: a session high or low or the previous day's level counts most	No stops taken: ignore it
A new extreme first	Price makes a new high (or low) before the close comes	The old run is replaced by the new one
Cancelled	A trade back beyond the extreme of the run	The change is off

Last verified 2026-10-31. All charts below are real historical CME NQ futures data, shown in New York time.

NQ 5-minute chart, November 19, 2025: the 10:10-10:20 up-close run that takes the previous day high, the level at the run's 24,922.50 open, the 10:35 candle closing below it, the swing low at 24,894.25 and the fall to 24,507.00 at 12:40 — NQ 5M, Nov 19, 2025. The close that changed sides.

Here is the idea on one chart. On November 19, 2025, three up-close candles pushed NQ above the previous day high. At 10:35 a candle closed below the open of the first of them: delivery had changed sides. Two minutes after that candle closed, the swing low broke, and price fell more than 400 points by 12:40.

How does a change in state of delivery work?

Price is delivered by one side at a time: a run of up-close candles is price being offered higher, a run of down-close candles lower. When a body closes back through the open of that run, the move has been fully given back, and delivery has switched sides.

Diagram of a bearish change in state of delivery: an up-close run takes the buy stops above an old high, the level is the open of its first candle, and a later candle body closes below it — The level is the open of the run; the close below it is the CISD.

The run. A run of up-close candles pushes into a high and takes the buy stops above it. See liquidity.
The level. Mark the opening price of the first candle in that run.
The close. A candle body closes below that level. That close is the change in state of delivery.

Bullish vs bearish CISD

The bullish version is the mirror: a run of down-close candles takes the sell stops under a low, and a body close above the open of its first candle is the change.

Diagram of a bullish change in state of delivery: a down-close run takes the sell stops under an old low, and a later candle body closes above the open of its first candle — The mirror: a bullish CISD.

ICT ties the two together: the run whose opening gets closed through is where the order block sits, and that close is what confirms it.

Diagram of the run's bodies framed as the order block, with the close below the run's open that confirms it — The run's bodies are the order block; the close confirms it.

CISD vs market structure shift: what is the difference?

A market structure shift needs price to trade through the swing that started the last push, after the stop raid; a trade through is enough. A change in state of delivery only needs a body close back through the open of the run. That level is often nearer the high than the swing low is, so the change in state of delivery often comes first.

Diagram comparing the two levels: the CISD level at the open of the run, closed through first, and the lower swing that started the push, traded through after it — CISD: the first sign. The shift: the confirmation.

Earlier is not always better. A change in state of delivery can fire and then fail before structure ever shifts. Treat it as the first sign, and the shift as the confirmation. For telling a real turn from a stop run, see MSS vs liquidity grab.

How do you identify a change in state of delivery?

Four checks: a run of same-close candles with its first open as the level, a body close back through that level, stops taken by the push that made the extreme, and no new extreme before the close.

The run and the level. Consecutive same-close candles; the level is the open of the first one.
A body close. A wick through the level does not count.
Stops taken. The push that made the extreme took the stops. A session high or low, or the previous day's, counts most; a minor swing counts less; with no stops taken, ignore it.
No new extreme first. If price makes a new high (or low) before the close comes, the old run is gone. Start again from the new run.

When is a CISD invalid?

Once it fires, a trade back beyond the extreme of the run cancels it: above the high of a bearish run, or below the low of a bullish one.

Diagram of a cancelled change in state of delivery: after the close below the level, price trades back above the extreme of the run — A trade back beyond the extreme: cancelled.

What does a change in state of delivery look like on real charts?

A bearish one after the previous day high was taken, a bullish one after the Asia low was taken, and a bearish one that was cancelled, all on the 5-minute chart.

Example 1: a bearish CISD, NQ 5-minute, November 19, 2025

NQ 5-minute chart, November 19, 2025: the 10:10-10:20 up-close run with its 24,922.50 open as the level, the previous day high at 24,959.50 taken at 10:15, the 24,988.00 top at 10:17, the 10:35 close at 24,912.50, the 10:42 trade below the 24,894.25 swing low and the 24,507.00 low at 12:40 — NQ 5M, Nov 19, 2025. The close first, the shift two minutes later.

The 10:10, 10:15 and 10:20 candles all close up. The first opens at 24,922.50. That is the level.
At 10:15 price trades above the previous day high at 24,959.50, and at 10:17 it tops at 24,988.00.
The next two candles close down, but still above the level. The 10:35 candle closes at 24,912.50, below it. That is the change in state of delivery.
At 10:42 price trades below the 10:10 swing low at 24,894.25. That is the structure shift, two minutes after the close.
Price does not get back above the high that session. At 12:40 it reaches 24,507.00.

Example 2: a bullish CISD, NQ 5-minute, January 9, 2026

NQ 5-minute chart, January 9, 2026: the 09:55-10:05 down-close run with its 25,737.50 open as the level, the Asia low at 25,627.50 taken at 10:08 down to 25,615.50, the 10:10 close at 25,747.50, the 10:16 trade above the 25,763.75 swing high and the 25,985.50 high at 15:25 — NQ 5M, Jan 9, 2026. The very next candle changes sides.

The 09:55, 10:00 and 10:05 candles all close down. The first opens at 25,737.50.
At 10:08 price trades below the Asia low at 25,627.50, down to 25,615.50. The sell stops are taken.
The very next candle, 10:10, closes at 25,747.50, above the level. Delivery has switched to the buy side.
At 10:16 price trades above the 10:00 swing high at 25,763.75. The shift comes a minute after that close.
Price does not trade back to the low that session, and at 15:25 it reaches 25,985.50.

When a CISD fails: NQ 5-minute, January 20, 2026

NQ 5-minute chart, January 20, 2026: the London high taken in the 09:30 candle, the 09:40 up-close candle with its 25,301.25 open, the 09:45 close at 25,297.75, the 09:51 trade above the 25,341.25 high of that candle and the 25,417.00 high at 10:42 — NQ 5M, Jan 20, 2026. No shift, extreme taken back.

In the 09:30 candle price runs above the London high.
The 09:40 candle closes up, from an open of 25,301.25. The 09:45 candle closes at 25,297.75, below that open: a bearish change in state of delivery.
No swing low breaks. At 09:51 price trades above the 09:40 candle's high of 25,341.25, and the change is cancelled. By 10:42 price is at 25,417.00.
That is why the close is a first sign, not the whole story: without the shift, and with the extreme taken back, there is nothing left.

How do you use the change in state of delivery in your own charting?

Treat a CISD as the first sign that the other side has taken over, and let the structure shift confirm it.

Say which run. Name the timeframe, the level (the run's first open) and the extreme.
Say what it took. A session or previous day level counts more than a minor swing.
Wait for the body close. A wick through the level is not a change.
Keep the extreme in view. A trade back beyond it ends the idea.

More concepts in the series are on the ICT Concepts Decoded hub. If you trade futures with a prop firm, you can look up a firm's rules on the challenges page or set two firms side by side on the compare page.

Frequently asked questions

What does CISD stand for?

Change in state of delivery: the moment price stops being delivered by one side and starts being delivered by the other.

Does a CISD need a candle close?

Yes. On this page a CISD is a candle body closing back through the level. A wick through it does not count.

Which price is the CISD level when there are several candles?

The opening price of the first candle in the run of same-close candles that made the high or the low.

Is a CISD the same as an order block?

They are linked: the run whose opening gets closed through is where the order block sits, and the CISD close is what confirms it.

Which timeframe should I use for CISD?

The timeframe you are reading. The examples here use the 5-minute chart; say the timeframe whenever you name one.

How do you trade a CISD?

This page does not give trade signals. It shows how to recognise a change in state of delivery, where its level is and what cancels it.

Sources

Concept: the change in the state of delivery and order blocks as taught by ICT (The Inner Circle Trader, Michael J. Huddleston), who originated these terms. The explanation, examples and charts on this page are our own.
Data: every chart is real historical CME Nasdaq-100 E-mini (NQ) futures data, shown in New York time.
Video: How to Spot a CISD (The First Sign the Market Turned) | ICT Change in State of Delivery, FundedEnigma.

Last verified: 2026-10-31. Written by Steve H.

Disclaimer: This page is for education only and is not financial advice. Trading futures involves substantial risk of loss. Past price behaviour does not guarantee future results.

Reading Candles: Open, High, Low, Close and Wicks: How to read a candle the ICT way: open, high, low, close, the order they print in, expansion, reversal and indecision candles, and the wick's 50%, on three real NQ sessions and 4,195 sessions of data.
Dealing Ranges and Average Daily Range (ADR): What an ICT dealing range is, how to measure average daily range (ADR), and what 4,175 NQ sessions and 473 New York mornings say about each, on three real NQ charts.
Phases of Price: Consolidation, Expansion, Retracement, Reversal: The four ICT phases of price (consolidation, expansion, retracement, reversal) with a testable rule for each, two real NQ sessions and what 527 days of 15-minute data say about each phase.
Top-Down Analysis: From the Daily Bias to the Five-Minute Chart: ICT top-down analysis with one job per timeframe (daily bias, one-hour structure, five-minute timing), two real NQ sessions and what 1,264 five-minute shifts say about lining the timeframes up.
The A+ Entry Checklist: ICT's Setup in Order: ICT's A+ entry checklist as seven checkable boxes, two real NQ sessions and what 1,919 five-minute setups say about ticking more of them.
The Silver Bullet: ICT's One-Hour Window: ICT's Silver Bullet defined so it can be checked, two real NQ mornings and what 1,534 days say about whether the 10 to 11 AM hour matters.
Breaker + FVG (the Unicorn) and the Box Setup: ICT's breaker + FVG pairing and the box setup, defined so they can be checked, four real NQ mornings and what 2020-2026 NQ data says about each.
ICT's Son's Model and the Twitter Model: ICT's son's model and the Twitter model, defined so they can be checked, four real NQ mornings and what 2020-2026 NQ data says about each.
Broadening Formations: ICT broadening formations defined so they can be checked: 15-minute, daily and session versions on real NQ charts, and what 2020-2026 NQ data says.
Trading Without a Structure Break: Reading a raid before the market structure shift, defined so it can be checked: three real NQ mornings and what 2020-2026 NQ data says about the early read versus waiting for the shift.
Stops, Sizing and Trailing for Prop Accounts: Stops placed where the idea is wrong, sizing by a fixed risk, and what tighter stops, trailing and losing runs looked like on 2020-2026 NQ data, for a prop account's drawdown limit.
News and the Economic Calendar: Filtering the economic calendar, ICT's idea of news as the catalyst, three real NQ release days and what CPI, jobs-report and Fed days did on 2020-2026 NQ data.
Why Traders Fail with ICT (and the Fix): Why traders struggle with ICT: the busy chart tested on 2020-2026 NQ, boxes drawn for no reason, losing streaks in one fixed rule, and how to make your trading measurable.
Currency Futures and the Dollar Index (6E, 6B, DXY): 6E, 6B and the dollar index explained, why a forex pair is a fraction, and whether picking the pair from yesterday's daily candle worked on 2010-2026 daily data.
EURGBP for Relative Strength (EURUSD vs GBPUSD): EURGBP as a live gauge of relative strength between EURUSD and GBPUSD, two real New York mornings, and a test of whether it tells you in advance.
Internal vs External Liquidity: Where pullbacks stop and where the next leg goes: the back and forth between old highs and lows and fair value gaps.
Market Structure: Read the trend from swing highs and lows, and tell a real change in trend from a pullback.
Protected and Relevant Swings: Rank swing highs and lows, see how a swing becomes protected, and focus on the relevant ones.
Market Structure Shift: Spot the turn: a stop raid, then displacement through the swing that started the last push.
MSS vs Liquidity Grab: The wick shows the stops were taken; the close and what follows show whether price meant it.
Premium, Discount and Equilibrium: Split the dealing range at its 50%: longs in discount, shorts in premium.
Optimal Trade Entry (OTE): The 62-79% band of a clean leg: where to look on a pullback, with a reason inside it.
Fair Value Gaps (FVG): Three candles that don't overlap: mark it wick to wick and judge it by the closes.
Inversion Fair Value Gaps (IFVG): A gap a candle body closed through: it can flip sides, and where it forms decides if it matters.
Order Blocks: The last opposite-close candles before the shift: frame them with bodies and only count them after a sweep, a shift and displacement.
Breaker Blocks: An order block that failed after a sweep: frame the candles of the broken swing with bodies and judge them by the closes.
Mitigation Blocks: A breaker's shape without the sweep: the second swing stops short, price breaks the swing between, and the candles in that second swing become the block.
Propulsion Blocks: An order block built on an order block: a candle dips into a fresh order block, holds its middle, closes back out, and a close beyond its open makes its body the block.
Killzones and key times of day: ICT's windows of the day in New York time, Asia, London and New York, plus the key opening times: when to look, not which way to go.
Daily bias: Which side of yesterday's range today is more likely to reach, read from yesterday's candle, with yesterday's 50% as the line to respect.
Intraday bias: The daily bias read on the four-hour candles: which side of the last candle's range the next one is more likely to reach.
Power of three (AMD): Accumulation, manipulation and distribution: the range, the wick and the body of a daily candle, and how to check a manipulation.
Standard deviation projections: Which leg to measure, the -1, -2, -2.5 and -4 marks, when they are void, and how often NQ actually reached them.
Inducement: The small swing high or low in front of a zone, why price runs it on the way in, and whether it helps the zone hold.
SMT Divergence: When NQ and ES disagree at the same level, what that one-sided sweep says, the confirmation to wait for, and how often it held.
High vs Low Resistance Liquidity: How to read the path between price and a pool: a clean path left by a fast move, or a crowded path of defended highs, and why distance matters more.
London Reversal Daily Profile: The ICT London reversal daily profile: London runs one side of the night and turns, New York continues. Rules, real NQ sessions and how often it held.
New York Daily Profiles: Three ICT daily profiles where New York turns the day: the New York manipulation, the New York reversal and seek and destroy, with real NQ sessions and how often each showed up.
Weekly Profiles: Classic Expansion and Midweek Reversal: Two ICT weekly profiles, the classic expansion and the midweek reversal: which day makes the weekly wick, three real NQ weeks and how often each showed up.
Weekly Profiles: Consolidation Reversal, Intraweek Reversal, Thursday Counter and TGIF: Four ICT weekly profiles, the consolidation reversal, intraweek reversal, Thursday counter and TGIF, on four real NQ weeks and 731 weeks of data.
Draw on Liquidity: Which high or low price is most likely to reach next, and two simple reads to pick the side.
Liquidity: Where stop orders rest above highs and below lows, and how price runs from one pool to the next.
All ICT Concepts Decoded lessons (the series hub)
The ICT Concepts Decoded playlist on YouTube

Keep learning

How prop firm drawdown works
How to pass a prop firm evaluation
Trading futures with a funded account? Futures prop firms ranked and side-by-side comparisons