I have backtested this strategy.. Without slippage, it's a very profitable strategy. You can almost double your money in 1 year. After slippage, it becomes a losing strategy. The STT and other charges is way too much to make it profitable.
I backtested it in 1 hour breakout as well as 2 hour breakout.
I backtested it in 1 hour breakout as well as 2 hour breakout.