RPI Dip Snapshot Strength + Rules (15m/1h Day/Swing)________________________________________
Description
What this indicator is for
This indicator gives you a quick snapshot to see if a market currently looks good for short-term dip trading.
Instead of many complicated stats, it shows a small summary panel that answers one main question:
“Is this symbol currently in a good environment for day or swing dip trading?”
It is designed as a market filter, not a full trading system.
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What the table shows
NOW Dip %
This shows how far price has dropped from the recent peak to the current low.
Why this matters:
Dip trading works best when the market is already in a pullback.
If there is no dip, there is no setup.
Think of this row as:
“How deep is the current pullback?”
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Events (data confidence)
This tells you how much historical data exists for similar dips.
More events = more reliable statistics.
Typical interpretation:
• Very low → not enough history → unreliable
• Low → weak confidence
• OK → usable
• High / Very high → strong confidence
This row answers:
“Can we trust the statistics?”
This is very important.
Even a strong strength score is less useful if events are low.
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Rules check
This row checks the 3 basic conditions for the tool:
1. You are on 15m or 1h timeframe
2. A dip trigger is active
3. There are enough events
If this row is not green, the environment is not ideal.
This row answers:
“Are we allowed to use the signal right now?”
Always check this row first.
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Strength (0–100)
This is the main score.
It combines:
• Historical rebound performance
• Reliability of the data
• Overall dip behavior
Simple interpretation:
• 70+ → strong environment
• 60–70 → ok but be careful
• Below 60 → weak environment
This row answers:
“How good were dips historically in this market?”
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How to use this indicator properly
Step 1 — Choose the correct timeframe
Use this only on:
• 15 minutes
• 1 hour
These timeframes match the historical analysis behind the indicator.
Using higher timeframes changes the meaning and reduces accuracy.
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Step 2 — Check the Rules row first
If the Rules row is red, stop here.
That means:
• Wrong timeframe, or
• No dip trigger, or
• Not enough data.
No valid environment = no trade idea.
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Step 3 — Check the Events row
You want OK / High / Very high events.
Low events = weak statistics = higher risk.
This step answers:
“Do we trust the data?”
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Step 4 — Look at Strength
Strength is your final filter.
Good workflow:
• Rules = OK
• Events = OK or better
• Strength = High
This combination means the market has historically behaved well after dips.
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Step 5 — Use it as a filter, not a signal
This tool does not tell you when to buy or sell.
It tells you:
Which markets are worth looking at right now.
You still need:
• Your own entries
• Your own risk management
• Your own strategy
Think of this as a market scanner.
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Very important warnings
This indicator is designed for:
• Day trading
• Short swing trading
It is NOT for long-term investing.
It does not predict long-term trend or fundamentals.
It only measures how markets historically behaved after dips on short timeframes.
Low Events = low reliability.
Pine Script® indicator
