Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
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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:
@shtcoinr, very good buy signals on dips, plz add sell on rise also if you can Thanks
shtcoinr
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@abhiaansh80, not gonna publish it but here it is if u want to try ``` //@version=4 strategy(title="Sell The Rip", shorttitle="STFR", overlay=true) dipness = input(title="Dipness",defval=2) smoothness = input(title="Smoothing",defval=10,minval=0) lookforward = input(title="Exit After This Many Bars", defval=20)
thedip = high + (atr(20) * dipness) theripsma = sma(thedip,smoothness)
sellCondition = crossover(high,theripsma)
if (sellCondition) strategy.entry("short", strategy.short)