The strategy combines a contrarian approach (buying the dips) with a trend-following logic (only when the price is above the MA200)
The strategy seeks to find the best times when buying the dips on the asset should result to be more profitable.
The price above a long-term moving average indicates momentum that increases the possibility of profiting from buying the asset on short-term weakness.
Interesting- I will study the code and test in the 5 min chart. I trade MES - Micro e-mini Futures. I find price + volume to be a very good method for predicting trend flow. I typically sell after 10-15 ticks which is $1.25 per tick. So I might need to adjust the math in this script.