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Download the github repo on your phone, and unzip BetterRes-master.zip. Find the BetterRes folder and copy it to "/var/mobile/".
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SSH into your phone as root, cd to the directory you copied BetterRes to, and run "chmod 0777 install.sh". After that, type "./install.sh" and wait for the script to finish installing.
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Go to /private/var/mobile/Library/Preferences/ and open com.apple.iokit.IOMobileGraphicsFamily.plist.setrestarget.bak with a text editor. Change the canvas_height and canvas_width to the values you want (make sure they apply to your phone's aspect ratio). Save the file and close it.
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Reboot the device and rejailbreak for your custom resolution to take effect!
I am not responsible for any damages you may inflict on your device by installing and/or misusing this tool on your device.
/u/mahmoudnasha for SetRes, the basis for BetterRes.