Trend-Following Backtester · Guide · backtest 한국어

equity · HK

Cowell e Holdings Inc. backtest

10 trend-following strategies were compared on the full daily history of Cowell e Holdings Inc.. 9 beat buy-and-hold CAGR; Supertrend ranks first by Sharpe, matching the main backtester. The return/drawdown alternative is Keltner 채널 돌파 (CAGR 18.4%, MDD -47.6%).

Data 2015-03-31 ~ 2026-07-31daily bars 2,790 (11.3 years)Costs 0.5%Venue HKEXMonthly snapshot 2026-07-31

Results by strategy

9 of 10 beat buy and hold (CAGR 15.9%, drawdown -90.3%).

Sharpe leader (same as main): Supertrend — CAGR 31.2%, MDD -55.0%, Sharpe 0.80, 48% exposure.

Return/drawdown alternative: Keltner 채널 돌파 — CAGR is 15.2%p higher than buy and hold, while drawdown improves by 35.3%p (CAGR 18.4%, MDD -47.6%, exposure 37%).

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=19, mult=1.6
31.2%-55.0%0.800.5721.7x15648%
볼린저 밴드 돌파
n=11, k=1.2
28.3%-49.8%0.770.5716.9x22639%
MACD
fast=7, slow=15, signal=15
28.3%-60.9%0.750.4616.8x21949%
ADX / DI 방향성
period=8, threshold=14
27.1%-67.4%0.720.4015.2x27652%
ROC 모멘텀
n=11, threshold=-0.08
24.1%-76.2%0.660.3211.6x26475%
EMA 크로스오버
fast=66, slow=280
21.4%-66.6%0.630.329.0x660%
Donchian 채널 돌파
entryN=1, exitN=70
21.1%-82.3%0.620.268.8x5795%
Keltner 채널 돌파
emaPeriod=33, atrPeriod=21, mult=1.1
18.4%-47.6%0.600.396.8x9437%
Parabolic SAR
step=0.015, maxStep=0.32
16.0%-76.5%0.540.215.4x17049%
SMA 크로스오버
fast=61, slow=66
12.8%-71.5%0.490.183.9x8653%
Buy and hold15.9%-90.3%0.550.185.3x1100%
1x 10x 2016 2018 2020 2022 2024 2026 SupertrendBuy and hold
Supertrend: Solid strategy line versus dashed buy-and-hold line. Log scale.
0% -23% -45% -68% -90% 2016 2018 2020 2022 2024 2026 Buy and holdSupertrend
Supertrend maximum drawdown -55.0% (2023-06-05 → 2026-03-24), prior peak not yet recovered.

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