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Buy The Dip - Does It Work?

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Buying the dip has become a meme in crypto, but does it actually work?

Using this script you can find out.
The dip is defined here as the average true range multiplied by a number of your choosing (dipness input) and subtracted from the low.
When price crosses under the dip level, a long is initiated. The long is then closed using a timestop (default value 20 bars), no fancy exits here.

A general rule for buying the dip should be to be more passive in a bull market and aggressive in a bear market.
Same goes for all counter trend trading.

Heres a few other examples of dip buying statistics using the H4 timeframe:

50% profitable, 1.692 Profit Factor
PIVXBTC
Snapshot

56.52% profitable, 1.254 Profit Factor
$BINANCE:KMDBTC
Snapshot

27.27% Profitable, 0.257 Profit Factor... yikes!
$BINANCE:BTSBTC
Snapshot

73.33% Profitable, 13.627 Profit Factor... o.O
MANABTC
Snapshot
Versionshinweise
Had accidentally hard coded the forward looking number.

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