No, a twistie is not a Cheerleading move.
I am a competitive cheerleading and tumbling coach and I, myself, have been a cheerleader for 2 years and I have never heard of it.
However, I think what you may be thinking about is called a Full-Twisting-Layout.
A Full-Twisting-Layout, or Full, is a back flip in a straight-body, laid out position done while twisting in a complete 360° circle.
This is an elite skill and, in competitive cheerleading, is only legal on levels 5 & 6.
Hope that answers your question.
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