I remember when I came across someone who was trading almost this same method almost 10 years ago (after having tried every method under the sun). He graciously showed me what he was doing and looking for (for free mind you--he was just trying to pass the time and his knowledge on and didnt care about "selling signals").
Hopefully, at least someone has thought differently about trading and what they brainwash you with making you believe you always need something else to have success.