DislikedWell the best thing to do would be to do a backtest and test the reliability. You have a basic formulae to lay the ground rules and since it is a 1 bar per week setup the testing for say 5 years should take you no longer than a few days of hardcore charting or a few weeks of doing bits here and there. Best of luck, if you think there is an edge in just taking the 1 bar per week and you can formulate it then you will have a very simple task with trading. Wait for the signal and take it.
Best of luck, I love new ideas moving forward
RTIgnored
Then compare the MAE and MFE of the profitable trades with the unprofitable ones.
From there you can gather a lot of information.