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System looks fairly sound at first glance, only thing you will need to be careful of is the fact that the testing period (Jan-Jun 04) has been the best time to trade in the past 5 years, nice strong moves, if you look at some other posts where systems have been tested they all do well in that period.
I suggested a system called SIBKIS that other traders are still working with, this gave excellent results as well in that period but would have performed only just above average in 2003 with high drawdowns.
Not saying your ideas won't work, and the use of 4 hour charts is good, but you just need to see how it would have performed in say 2003.
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