Trend-Following Backtester · Guide · backtest 한국어

equity · GB

Ecora Royalties PLC backtest

10 trend-following strategies were compared on the full daily history of Ecora Royalties PLC. 8 beat buy-and-hold CAGR; Donchian 채널 돌파 ranks first by Sharpe, matching the main backtester. The return/drawdown alternative is ADX / DI 방향성 (CAGR 5.4%, MDD -31.2%).

Data 1988-07-01 ~ 2026-07-31daily bars 9,766 (38.1 years)Costs 0.5%Venue LSEMonthly snapshot 2026-07-31

Results by strategy

8 of 10 beat buy and hold (CAGR 3.7%, drawdown -86.5%).

Sharpe leader (same as main): Donchian 채널 돌파 — CAGR 10.0%, MDD -62.8%, Sharpe 0.51, 48% exposure.

Return/drawdown alternative: ADX / DI 방향성 — CAGR is 6.4%p higher than buy and hold, while drawdown improves by 23.6%p (CAGR 5.4%, MDD -31.2%, exposure 9%).

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=104, exitN=77
10.0%-62.8%0.510.1638.2x4148%
ADX / DI 방향성
period=47, threshold=24
5.4%-31.2%0.490.177.5x369%
EMA 크로스오버
fast=22, slow=134
9.3%-58.3%0.470.1629.4x7750%
SMA 크로스오버
fast=36, slow=222
8.9%-52.1%0.460.1725.8x4948%
ROC 모멘텀
n=148, threshold=0.11
6.5%-60.8%0.390.1110.8x21937%
Supertrend
period=16, mult=4.6
7.0%-78.0%0.380.0913.0x17152%
Keltner 채널 돌파
emaPeriod=41, atrPeriod=20, mult=2.7
4.9%-49.5%0.340.106.3x14427%
볼린저 밴드 돌파
n=43, k=1.9
4.1%-61.8%0.290.074.7x18634%
MACD
fast=13, slow=57, signal=15
-0.2%-79.7%0.12-0.000.9x47950%
Parabolic SAR
step=0.02, maxStep=0.36
-0.4%-93.0%0.11-0.000.8x67948%
Buy and hold3.7%-86.5%0.280.043.9x1100%
1x 10x 1989 1994 1999 2004 2009 2014 2019 2024 Donchian 채널 돌파Buy and hold
Donchian 채널 돌파: Solid strategy line versus dashed buy-and-hold line. Log scale.
0% -22% -43% -65% -86% 1989 1994 1999 2004 2009 2014 2019 2024 Buy and holdDonchian 채널 돌파
Donchian 채널 돌파 maximum drawdown -62.8% (1989-05-01 → 1993-01-11), recovered after 1,523 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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