Trend-Following Backtester · Guide · backtest 한국어

equity · GB

Hill & Smith PLC backtest

10 trend-following strategies were compared on the full daily history of Hill & Smith PLC. 0 beat buy-and-hold CAGR; Donchian 채널 돌파 ranks first by Sharpe, matching the main backtester.

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

0 of 10 beat buy and hold (CAGR 13.6%, drawdown -83.5%).

Sharpe leader (same as main): Donchian 채널 돌파 — CAGR 12.9%, MDD -82.8%, Sharpe 0.50, 78% exposure.

CAGR reference leader: ROC 모멘텀 — CAGR 13.3%, MDD -83.7%, exposure 100%. It is hold-like at 95%+ exposure and is not used as the featured strategy.

No strategy retained at least 75% of buy-and-hold CAGR while reducing drawdown by both 20% relatively and 5 percentage points absolutely.

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=11, exitN=37
12.9%-82.8%0.500.16103.3x17978%
SMA 크로스오버
fast=26, slow=112
8.8%-51.4%0.450.1724.4x8561%
ROC 모멘텀
Hold-like · Exposure 100%
n=1, threshold=-0.12
13.3%-83.7%0.420.16117.8x15100%
Supertrend
period=19, mult=5
7.9%-78.5%0.380.1018.2x14765%
EMA 크로스오버
fast=8, slow=51
6.1%-80.3%0.370.089.4x19362%
ADX / DI 방향성
period=26, threshold=23
4.9%-54.2%0.340.096.2x12531%
Keltner 채널 돌파
emaPeriod=59, atrPeriod=25, mult=2.4
3.2%-80.3%0.280.043.3x14745%
MACD
fast=18, slow=55, signal=19
6.3%-80.0%0.280.0810.3x36248%
볼린저 밴드 돌파
n=59, k=1.2
3.1%-80.3%0.280.043.2x19348%
Parabolic SAR
step=0.015, maxStep=0.36
3.9%-79.1%0.270.054.3x52454%
Buy and hold13.6%-83.5%0.420.16127.4x1100%
1x 10x 100x 1989 1994 1999 2004 2009 2014 2019 2024 ROC 모멘텀Donchian 채널 돌파Buy and hold
Donchian 채널 돌파 (Sharpe leader), ROC 모멘텀 (CAGR reference), Buy and hold.
0% -21% -42% -63% -84% 1989 1994 1999 2004 2009 2014 2019 2024 Buy and holdROC 모멘텀Donchian 채널 돌파
Donchian 채널 돌파 maximum drawdown -82.8% (1989-08-02 → 1990-04-27), recovered after 937 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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