Looking for feedback on an indicator I'm developing

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I've been working on an indicator to help me out with swing trades and buying the right dips, and knowing when to sit out. I'm new to trading and I find that breakout trading isn't the best strategy, and it actually rarely works when we're in a downtrend as we currently are.

So how to have the confidence to know which dips to buy?

Here's a strategy I'm playing around with and I'd love to get your feedback.

Am I missing anything? Are there other indicators with similar strategies you can point me to? Leave a comment and let me know!

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