Consecutive Bars Above/Below EMA Buy the Dip Strategy

█ STRATEGY DESCRIPTION
The "Consecutive Bars Above/Below EMA Buy the Dip Strategy" is a mean-reversion strategy designed to identify potential buying opportunities when the price dips below a moving average for a specified number of consecutive bars. It enters a long position when the dip condition is met and exits when the price shows strength by exceeding the previous bar's high. This strategy is suitable for use on various timeframes.

█ WHAT IS THE MOVING AVERAGE?
The strategy uses either a Simple Moving Average (SMA) or an Exponential Moving Average (EMA) as a reference for identifying dips. The type and length of the moving average can be customized in the settings.

█ SIGNAL GENERATION
1. LONG ENTRY
A Buy Signal is triggered when:

• The close price is below the selected moving average for a specified number of consecutive bars (`consecutiveBarsTreshold`).
  
• The signal occurs within the specified time window (between `Start Time` and `End Time`).
  

2. EXIT CONDITION

• A Sell Signal is generated when the current closing price exceeds the high of the previous bar (`close > high[1]`). This indicates that the price has shown strength, potentially confirming the reversal and prompting the strategy to exit the position.
  

█ ADDITIONAL SETTINGS

• Consecutive Bars Threshold: The number of consecutive bars the price must remain below the moving average to trigger a Buy Signal. Default is 3.
  
• MA Type: The type of moving average used (SMA or EMA). Default is SMA.
  
• MA Length: The length of the moving average. Default is 5.
  
• Start Time and End Time: The time window during which the strategy is allowed to execute trades.
  

█ PERFORMANCE OVERVIEW

• This strategy is designed for mean-reverting markets and performs best when the price frequently oscillates around the moving average.
  
• It is sensitive to the number of consecutive bars below the moving average, which helps to identify potential dips.
  
• Backtesting results should be analysed to optimize the Consecutive Bars Threshold, MA Type, and MA Length for specific instruments.