Trend-Following Backtester · Guide · backtest 한국어

etf · GB

BH Macro Ltd GBP backtest

10 trend-following strategies were compared on the full daily history of BH Macro Ltd GBP. 0 beat buy-and-hold CAGR; Donchian 채널 돌파 ranks first by Sharpe, matching the main backtester. The return/drawdown alternative is Supertrend (CAGR 7.1%, MDD -21.2%).

Data 2007-03-09 ~ 2026-07-31daily bars 4,900 (19.4 years)Costs 0.5%Venue LSEMonthly snapshot 2026-07-31

Results by strategy

0 of 10 beat buy and hold (CAGR 7.6%, drawdown -35.9%).

Sharpe leader (same as main): Donchian 채널 돌파 — CAGR 6.9%, MDD -25.8%, Sharpe 0.68, 47% exposure.

CAGR reference leader: Supertrend — CAGR 7.1%, MDD -21.2%, exposure 58%.

Return/drawdown alternative: Supertrend — CAGR is 0.7%p lower than buy and hold, while drawdown improves by 10.2%p (CAGR 7.1%, MDD -21.2%, exposure 58%).

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=63, exitN=36
6.9%-25.8%0.680.273.6x3447%
Supertrend
period=21, mult=4.8
7.1%-21.2%0.660.333.8x3258%
EMA 크로스오버
fast=35, slow=84
6.6%-18.8%0.610.353.5x3860%
SMA 크로스오버
fast=44, slow=75
6.2%-18.2%0.590.343.2x7257%
볼린저 밴드 돌파
n=56, k=3.5
3.7%-12.8%0.570.292.0x2819%
ROC 모멘텀
Hold-like · Exposure 100%
n=1, threshold=-0.04
6.6%-38.2%0.520.173.5x23100%
Keltner 채널 돌파
emaPeriod=17, atrPeriod=48, mult=3.5
1.4%-13.5%0.370.101.3x247%
ADX / DI 방향성
period=41, threshold=21
0.7%-22.4%0.180.031.1x3616%
Parabolic SAR
step=0.005, maxStep=0.18
0.4%-53.0%0.090.011.1x14855%
MACD
fast=22, slow=52, signal=28
-0.9%-54.3%-0.03-0.020.8x16248%
Buy and hold7.6%-35.9%0.570.214.1x1100%
1x 2008 2011 2014 2017 2020 2023 2026 SupertrendDonchian 채널 돌파Buy and hold
Donchian 채널 돌파 (Sharpe leader), Supertrend (CAGR reference), Buy and hold.
0% -9% -18% -27% -36% 2008 2011 2014 2017 2020 2023 2026 Buy and holdSupertrendDonchian 채널 돌파
Donchian 채널 돌파 maximum drawdown -25.8% (2022-09-23 → 2025-11-21), prior peak not yet recovered.

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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