I have the impression that this is some bot algo, because of the "waves" it generates on the bid-ask level.
So for example if it detects some buy presure that raises the price, it adds up to selling possitions higher in the order book.
If it notices sell pressure, it adds up to buying possitions lower in the order book.
Itīs premise is "never lose" this is, it never sells higher that the average buying price (and vice versa) and the only risk it takes is that it buys and the price goes down even further, or that it sells and the price goes up even further (so it "misses out" higher gains, so not a real loss here).