Trend-Following Backtester · Guide · backtest 한국어

equity · HK

Innovent Biologics, Inc. backtest

10 trend-following strategies were compared on the full daily history of Innovent Biologics, Inc.. 0 beat buy-and-hold CAGR; Donchian 채널 돌파 ranks first by Sharpe, matching the main backtester. The return/drawdown alternative is Donchian 채널 돌파 (CAGR 22.7%, MDD -45.2%).

Data 2018-10-31 ~ 2026-07-31daily bars 1,905 (7.7 years)Costs 0.5%Venue HKEXMonthly snapshot 2026-07-31

Results by strategy

0 of 10 beat buy and hold (CAGR 23.7%, drawdown -82.0%).

Sharpe leader (same as main): Donchian 채널 돌파 — CAGR 22.7%, MDD -45.2%, Sharpe 0.67, 81% exposure.

Return/drawdown alternative: Donchian 채널 돌파 — CAGR is 1.0%p lower than buy and hold, while drawdown improves by 36.8%p (CAGR 22.7%, MDD -45.2%, exposure 81%).

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=17, exitN=63
22.7%-45.2%0.670.504.9x1781%
ROC 모멘텀
n=225, threshold=0.13
19.4%-54.5%0.660.363.9x6052%
Supertrend
period=22, mult=4.7
18.9%-45.7%0.630.413.8x1755%
Keltner 채널 돌파
emaPeriod=46, atrPeriod=26, mult=2.2
14.8%-35.9%0.610.412.9x2528%
SMA 크로스오버
fast=44, slow=193
17.1%-57.9%0.600.303.4x1651%
MACD
fast=12, slow=48, signal=28
16.6%-58.5%0.580.283.3x7950%
볼린저 밴드 돌파
n=55, k=2.1
13.8%-31.7%0.570.442.7x2532%
EMA 크로스오버
fast=11, slow=189
14.1%-64.4%0.530.222.8x2159%
ADX / DI 방향성
period=20, threshold=18
9.7%-44.6%0.460.222.0x5329%
Parabolic SAR
step=0.015, maxStep=0.18
-0.5%-60.0%0.20-0.011.0x14251%
Buy and hold23.7%-82.0%0.660.295.2x1100%
1x 2019 2020 2021 2022 2023 2024 2025 2026 Donchian 채널 돌파Buy and hold
Donchian 채널 돌파: Solid strategy line versus dashed buy-and-hold line. Log scale.
0% -21% -41% -62% -82% 2019 2020 2021 2022 2023 2024 2025 2026 Buy and holdDonchian 채널 돌파
Donchian 채널 돌파 maximum drawdown -45.2% (2021-01-20 → 2023-08-08), recovered after 1,589 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

Read next