Trend-Following Backtester · Guide · backtest 한국어

equity · AR

Banco Macro SA Class B backtest

10 trend-following strategies were compared on the full daily history of Banco Macro SA Class B. 1 beat buy-and-hold CAGR; ROC 모멘텀 ranks first by Sharpe, matching the main backtester. The return/drawdown alternative is ROC 모멘텀 (CAGR 39.2%, MDD -53.8%).

Data 2000-01-03 ~ 2026-07-31daily bars 6,618 (26.6 years)Costs 0.5%Venue BCBAMonthly snapshot 2026-07-31

Results by strategy

1 of 10 beat buy and hold (CAGR 39.2%, drawdown -88.7%).

Sharpe leader (same as main): ROC 모멘텀 — CAGR 39.2%, MDD -53.8%, Sharpe 0.97, 67% exposure.

Return/drawdown alternative: ROC 모멘텀 — CAGR is 0.0%p higher than buy and hold, while drawdown improves by 34.9%p (CAGR 39.2%, MDD -53.8%, exposure 67%).

The alternative must retain 75% of buy-and-hold CAGR, improve drawdown by at least 20% and 5 percentage points, and stay below 95% exposure; the ranking weights return retention 60% and drawdown improvement 40%.

Strategy · parametersCAGRMDDSharpeCalmarTotalTradesExposure
ROC 모멘텀
n=159, threshold=0.03
39.2%-53.8%0.970.736604.6x10967%
Donchian 채널 돌파
entryN=113, exitN=94
38.0%-72.7%0.930.525219.4x2366%
EMA 크로스오버
fast=48, slow=212
36.9%-81.0%0.920.464229.4x1971%
SMA 크로스오버
fast=42, slow=154
37.0%-75.1%0.910.494299.8x3564%
Keltner 채널 돌파
emaPeriod=73, atrPeriod=10, mult=1.4
24.9%-70.6%0.760.35367.4x14753%
볼린저 밴드 돌파
n=55, k=1.9
22.7%-63.1%0.750.36227.3x10542%
Supertrend
period=19, mult=1.7
24.7%-62.4%0.750.40352.0x42155%
Parabolic SAR
step=0.02, maxStep=0.12
22.0%-65.6%0.700.33195.7x51155%
MACD
fast=7, slow=38, signal=6
21.1%-79.6%0.680.27163.2x63852%
ADX / DI 방향성
period=19, threshold=8
20.8%-79.2%0.680.26151.3x39551%
Buy and hold39.2%-88.7%0.870.446602.3x1100%
1x 10x 100x 1,000x 2001 2005 2009 2013 2017 2021 2025 ROC 모멘텀Buy and hold
ROC 모멘텀: Solid strategy line versus dashed buy-and-hold line. Log scale.
0% -22% -44% -67% -89% 2001 2005 2009 2013 2017 2021 2025 Buy and holdROC 모멘텀
ROC 모멘텀 maximum drawdown -53.8% (2019-08-09 → 2019-12-11), recovered after 360 days.

Rules of the top strategy

Rides the trend when recent return (momentum) over a window is above a threshold.

Method and caveats

Past performance does not guarantee future returns. Parameters were selected on the same full-history sample using sharpe over 40 trials per strategy, so results contain in-sample bias. 0.5% trading costs are included; taxes, slippage and rejected orders are not.
Re-run the same setupAll asset reports

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