Buy The Dip - Does It Work?

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

56.52% profitable, 1.254 Profit Factor
KMDBTC

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

73.33% Profitable, 13.627 Profit Factor... o.O
MANABTC

Notes de version:

Had accidentally hard coded the forward looking number.