Trend-Following Backtester · Guide · backtest 한국어

equity · CN

Hengtong Optic-Electric Co., Ltd. Class A backtest

10 trend-following strategies were compared on the full daily history of Hengtong Optic-Electric Co., Ltd. Class A. 4 beat buy-and-hold CAGR; Donchian 채널 돌파 ranks first by Sharpe, matching the main backtester. The return/drawdown alternative is 볼린저 밴드 돌파 (CAGR 14.2%, MDD -47.8%).

Data 2003-08-22 ~ 2026-07-31daily bars 5,615 (22.9 years)Costs 0.5%Venue SSEMonthly snapshot 2026-07-31

Results by strategy

4 of 10 beat buy and hold (CAGR 14.6%, drawdown -79.8%).

Sharpe leader (same as main): Donchian 채널 돌파 — CAGR 21.7%, MDD -71.2%, Sharpe 0.73, 58% exposure.

Return/drawdown alternative: 볼린저 밴드 돌파 — CAGR is 7.1%p higher than buy and hold, while drawdown improves by 8.6%p (CAGR 14.2%, MDD -47.8%, exposure 38%).

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
Donchian 채널 돌파
entryN=34, exitN=50
21.7%-71.2%0.730.3190.8x4658%
SMA 크로스오버
fast=56, slow=138
17.1%-61.7%0.620.2837.5x3154%
EMA 크로스오버
fast=31, slow=46
16.6%-62.5%0.620.2633.6x7053%
Keltner 채널 돌파
emaPeriod=58, atrPeriod=13, mult=1.3
15.5%-64.7%0.610.2427.1x14044%
볼린저 밴드 돌파
n=57, k=1.7
14.2%-47.8%0.590.3020.9x8638%
Supertrend
period=23, mult=3.4
14.5%-60.3%0.580.2422.1x12049%
ROC 모멘텀
n=145, threshold=-0.03
13.7%-77.1%0.540.1818.8x14759%
ADX / DI 방향성
period=21, threshold=26
7.4%-41.6%0.450.185.2x7817%
Parabolic SAR
step=0.005, maxStep=0.2
6.6%-73.1%0.360.094.4x18449%
MACD
fast=18, slow=23, signal=16
2.0%-73.9%0.230.031.6x32253%
Buy and hold14.6%-79.8%0.540.1822.9x1100%
1x 10x 100x 2004 2007 2010 2013 2016 2019 2022 2025 Donchian 채널 돌파Buy and hold
Donchian 채널 돌파: Solid strategy line versus dashed buy-and-hold line. Log scale.
0% -20% -40% -60% -80% 2004 2007 2010 2013 2016 2019 2022 2025 Buy and holdDonchian 채널 돌파
Donchian 채널 돌파 maximum drawdown -71.2% (2017-11-21 → 2024-02-28), recovered after 3,020 days.

Rules of the top strategy

A new high means a trend starting; a new low means it’s over (turtle-trading style).

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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