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Azzas 2154 SA backtest

10 trend-following strategies were compared on the full daily history of Azzas 2154 SA. 9 beat buy-and-hold CAGR; ADX / DI 방향성 ranks first by Sharpe, matching the main backtester. The return/drawdown alternative is 볼린저 밴드 돌파 (CAGR 2.9%, MDD -14.0%).

Data 2011-02-02 ~ 2026-07-31daily bars 3,851 (15.5 years)Costs 0.5%Venue BMFBOVESPAMonthly snapshot 2026-07-31

Results by strategy

9 of 10 beat buy and hold (CAGR -1.7%, drawdown -84.8%).

Sharpe leader (same as main): ADX / DI 방향성 — CAGR 4.9%, MDD -17.2%, Sharpe 0.43, 13% exposure.

CAGR reference leader: EMA 크로스오버 — CAGR 7.1%, MDD -43.5%, exposure 47%.

Return/drawdown alternative: 볼린저 밴드 돌파 — CAGR is 6.6%p higher than buy and hold, while drawdown improves by 67.7%p (CAGR 2.9%, MDD -14.0%, exposure 5%).

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
ADX / DI 방향성
period=17, threshold=31
4.9%-17.2%0.430.292.1x3213%
볼린저 밴드 돌파
n=27, k=3.5
2.9%-14.0%0.420.211.6x105%
EMA 크로스오버
fast=18, slow=72
7.1%-43.5%0.400.162.9x4047%
Supertrend
period=15, mult=5
7.0%-40.8%0.400.172.8x3246%
Keltner 채널 돌파
emaPeriod=24, atrPeriod=25, mult=3.5
2.5%-18.9%0.270.131.5x167%
Donchian 채널 돌파
entryN=35, exitN=44
2.7%-51.4%0.230.051.5x4251%
SMA 크로스오버
fast=20, slow=78
2.6%-59.1%0.230.041.5x4848%
ROC 모멘텀
n=153, threshold=0.06
-0.1%-59.1%0.11-0.001.0x9040%
MACD
fast=17, slow=55, signal=18
-0.9%-74.0%0.11-0.010.9x15850%
Parabolic SAR
step=0.01, maxStep=0.22
-9.3%-84.0%-0.22-0.110.2x21452%
Buy and hold-1.7%-84.8%0.16-0.020.8x1100%
1x 2012 2014 2016 2018 2020 2022 2024 2026 EMA 크로스오버ADX / DI 방향성Buy and hold
ADX / DI 방향성 (Sharpe leader), EMA 크로스오버 (CAGR reference), Buy and hold.
0% -21% -42% -64% -85% 2012 2014 2016 2018 2020 2022 2024 2026 Buy and holdEMA 크로스오버ADX / DI 방향성
ADX / DI 방향성 maximum drawdown -17.2% (2017-10-27 → 2019-10-24), recovered after 1,356 days.

Rules of the top strategy

Looks at both the direction and the strength of the trend; holds only in a strong uptrend.

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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