Trend-Following Backtester · Guide · backtest 한국어

equity · US

AAON, Inc. backtest

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

Data 1992-12-16 ~ 2026-07-31daily bars 8,463 (33.6 years)Costs 0.5%Venue XNASMonthly snapshot 2026-07-31

Results by strategy

0 of 10 beat buy and hold (CAGR 23.9%, drawdown -73.6%).

Sharpe leader (same as main): Donchian 채널 돌파 — CAGR 18.5%, MDD -74.4%, Sharpe 0.60, 93% exposure.

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=7, exitN=102
18.5%-74.4%0.600.25296.9x6993%
SMA 크로스오버
fast=20, slow=50
9.7%-65.4%0.440.1522.7x18060%
EMA 크로스오버
fast=44, slow=60
8.3%-77.7%0.400.1114.6x10066%
ADX / DI 방향성
period=38, threshold=15
5.6%-62.4%0.330.096.3x14032%
Supertrend
period=25, mult=4.7
5.2%-78.0%0.320.075.5x10460%
ROC 모멘텀
n=92, threshold=-0.09
4.2%-87.9%0.300.054.0x31381%
Keltner 채널 돌파
emaPeriod=124, atrPeriod=10, mult=3.6
1.9%-73.8%0.200.031.9x8441%
볼린저 밴드 돌파
n=32, k=3
0.6%-55.0%0.130.011.2x9617%
Parabolic SAR
step=0.02, maxStep=0.34
-2.5%-93.1%0.10-0.030.4x70455%
MACD
fast=19, slow=23, signal=17
-2.4%-91.7%0.10-0.030.4x48051%
Buy and hold23.9%-73.6%0.680.321333.5x1100%
1x 10x 100x 1,000x 1993 1998 2003 2008 2013 2018 2023 Donchian 채널 돌파Buy and hold
Donchian 채널 돌파: Solid strategy line versus dashed buy-and-hold line. Log scale.
0% -19% -37% -56% -74% 1993 1998 2003 2008 2013 2018 2023 Buy and holdDonchian 채널 돌파
Donchian 채널 돌파 maximum drawdown -74.4% (1994-06-06 → 1996-05-31), recovered after 2,075 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 carried forward from the latest full optimization and replayed on this monthly dataset. 0.5% trading costs are included; taxes, slippage and rejected orders are not.
Re-optimize the same period and setupAll asset reports

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