This strategy is great and follows a similar concept than mine.
But i use Gann Hi Lo or also called SSL as an entry trigger for ranging or strong counter movements as an entry trigger. If it was an immediate pullback, i used RSI candles on setting 2 as an entry. When then market is oversold i bought and vice versa
I just tried it out of curiosity and passed FTMO with it. Never risked more than 0,5% per trade. After 3 losses i quit for that day. Took a pair that is trending, volatile and has a reasonable spread. Of course it is important to look out for tops and bottoms. I always took the first pullback since the chances are the highest. The later you enter the higher is the chance that it will form a Top/Bottom and reverse.