I see it as impossible for this to be more secure than a standard password-based system.
Look at it this way: if I use a password that is 12 characters long, based on a standard US keyboard being able to produce 96 different characters, that is 612,709,757,329,767,363,772,416 different combinations (9612).
Your picture-based system, on the other hand, only has 1,048,576 different possible combinations (220).
In summary, your picture-based system would be cracked in just 0.000524288 seconds! The password-based system, however, would take 9.7 million years to brute force!
(Based on: number of possibilities ÷ 2,000,000,000 = number of seconds)