SR: It is really hard to comment on new charting strategies.
Back in 1999 and 2000 there were several folks trying new stuff on the MDA/MDD thread on SI and some would ask for my feed back. I'll tell you what I had to tell most of them. The strategy is new and it is yours. A series of predictable successes is needed for the strategy to become viable.
If you could provide a broader time range view chart showing how this has worked in the past, that would help put me and others into a position to comment.