The upper-body squat for a thick, powerful chest.
That forward lean is what hits the chest. Stay upright and it becomes a triceps dip.
Dips load your chest at a deep stretch with your entire bodyweight, and the forward lean is what points that load at the pecs, especially the lower fibres. Your triceps drive the lockout and your shoulders stabilise the descent, making it one of the most complete pushing movements you can do on two bars. It scales forever too, from assisted reps all the way to added weight once bodyweight sets get comfortable.
Torso angle. Lean forward with your elbows allowed to flare slightly and the stretch and load land on your chest. Stay bolt upright with elbows tucked and your triceps take over.
Lower until you feel a solid stretch across your chest, usually upper arms around parallel or slightly below. Going deeper than your shoulders can control is where dips earn their bad reputation.
Use band assistance or an assisted dip machine, or jump to the top and lower slowly for negatives. Once you can do clean sets of 10 to 12, adding weight with a dip belt is the natural progression.
