Imagine how many HFT algorithms are out there trying to exploit every micro trend to the extreme. I am not in that game, but I can imagine all the things I would try, and I know there are really smart people and obviously a ton of money invested in it. Trying to find something simple that consistently makes money for a long time would be nearly impossible because the patterns would be found and exploited by many until they scrubbed out any potential gains. (But then again if someone did find it they wouldn't share). So you need to get novel and pour all sorts of external data into your models to have any edge. Something this simple just wouldn't be a thing. But it is still interesting to understand.