Pull back strategy

Hey guys so I’m developing a pull back strategy and just wondering if anyone is trading a similar one. So this is the strategy. The indicator I will be using are the Stochastics and the zig zag indicator. So for long trades: if the zig zag indicator puts in two higher highs and two higher lows, we are in a uptrend. Apply the fib to from the most recent low and drag it to the highs. Wait for price to retrace to either the 38.2, 50 or the 61.8 and then wait for a reversal candle stick pattern. The Stochastics must then cross from over sold area. Enter long, placing stop below the next fib level. Only take trades that can offer a 1:2 risk reward. Target the previous swing highs for you take profit. This is vice versa for short trades also. Thanks guys