Looking for feedback on an indicator I'm developing

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!