Trend-Following Backtester · Guide · backtest 한국어

equity · HK

MMG Ltd. backtest

10 trend-following strategies were compared on the full daily history of MMG Ltd.. 10 beat buy-and-hold CAGR; Supertrend ranks first by Sharpe, matching the main backtester. The return/drawdown alternative is Donchian 채널 돌파 (CAGR 10.5%, MDD -60.3%).

Data 2004-01-21 ~ 2026-07-31daily bars 5,567 (22.5 years)Costs 0.5%Venue HKEXMonthly snapshot 2026-07-31

Results by strategy

10 of 10 beat buy and hold (CAGR 4.7%, drawdown -91.8%).

Sharpe leader (same as main): Supertrend — CAGR 15.8%, MDD -71.0%, Sharpe 0.59, 43% exposure.

Return/drawdown alternative: Donchian 채널 돌파 — CAGR is 11.1%p higher than buy and hold, while drawdown improves by 20.9%p (CAGR 10.5%, MDD -60.3%, exposure 43%).

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
Supertrend
period=36, mult=3.3
15.8%-71.0%0.590.2227.2x12343%
ROC 모멘텀
n=36, threshold=0
14.4%-64.0%0.540.2320.8x33849%
SMA 크로스오버
fast=27, slow=46
14.2%-69.9%0.540.2019.8x13449%
볼린저 밴드 돌파
n=33, k=1.7
12.5%-69.9%0.520.1814.2x13833%
ADX / DI 방향성
period=36, threshold=11
11.3%-81.2%0.480.1411.0x16242%
Keltner 채널 돌파
emaPeriod=58, atrPeriod=16, mult=1.2
11.2%-70.4%0.480.1611.0x14440%
Donchian 채널 돌파
entryN=127, exitN=71
10.5%-60.3%0.460.179.5x2843%
EMA 크로스오버
fast=29, slow=52
10.6%-74.9%0.450.149.6x8250%
Parabolic SAR
step=0.075, maxStep=0.18
9.3%-68.0%0.420.147.5x79049%
MACD
fast=5, slow=54, signal=20
8.5%-72.6%0.410.126.3x35750%
Buy and hold4.7%-91.8%0.360.052.8x1100%
1x 10x 2005 2008 2011 2014 2017 2020 2023 2026 SupertrendBuy and hold
Supertrend: Solid strategy line versus dashed buy-and-hold line. Log scale.
0% -23% -46% -69% -92% 2005 2008 2011 2014 2017 2020 2023 2026 Buy and holdSupertrend
Supertrend maximum drawdown -71.0% (2010-10-08 → 2013-12-20), recovered after 2,495 days.

Rules of the top strategy

Trades the direction of a volatility-based trend line that trails below/above price.

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

Read next