You are just betting on autocorrelation. If your market features autocorrelation, system works. If it doesn't, system won't work. Market only moves randomly when you don't know what you're doing
This means that you need more than 67% of winning trade sto stay out of losses. And then I don't even count slippage and commissions in. And then you still make no profit.
Approach it from a different angle. If it was that easy and this is doable on any time-frame, why would anyone bother with anything else? They'd just diversify this strategy across markets and become billionaires.
An interesting chart. It would be cool to see this chart based on frequency vs number-of-tick daily change, and see if they are close to the above.
Sorry, I do not have intraday data. It's not a difficult process. I do it in Excel and use the FREQUENCY function.
It's kinda like a martingale strategy... and there are multiple issues with that. - fees - long losing streak - missing SL, but always hitting the profit target