Trend-Following Backtester · Guide · backtest 한국어

equity · CA

TMX Group Ltd. backtest

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

Data 2003-10-01 ~ 2026-07-31daily bars 5,734 (22.8 years)Costs 0.5%Venue TSXMonthly snapshot 2026-07-31

Results by strategy

0 of 10 beat buy and hold (CAGR 12.8%, drawdown -61.0%).

Sharpe leader (same as main): Donchian 채널 돌파 — CAGR 10.1%, MDD -57.9%, Sharpe 0.57, 81% 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=18, exitN=74
10.1%-57.9%0.570.189.1x5181%
Supertrend
period=13, mult=4.7
8.9%-43.1%0.570.217.0x6563%
ADX / DI 방향성
period=36, threshold=13
6.5%-30.0%0.530.224.2x13645%
SMA 크로스오버
fast=18, slow=155
7.4%-40.9%0.500.185.1x4863%
EMA 크로스오버
fast=36, slow=83
7.3%-40.7%0.490.185.0x5465%
Keltner 채널 돌파
emaPeriod=54, atrPeriod=15, mult=2.2
6.1%-35.7%0.480.173.9x10244%
ROC 모멘텀
n=90, threshold=-0.03
4.8%-62.9%0.350.082.9x17171%
Parabolic SAR
step=0.005, maxStep=0.28
4.0%-58.9%0.320.072.4x18556%
볼린저 밴드 돌파
n=55, k=1.3
3.2%-38.1%0.280.082.1x14648%
MACD
fast=22, slow=54, signal=27
3.1%-56.1%0.270.062.0x19748%
Buy and hold12.8%-61.0%0.610.2115.7x1100%
1x 10x 2004 2007 2010 2013 2016 2019 2022 2025 Donchian 채널 돌파Buy and hold
Donchian 채널 돌파: Solid strategy line versus dashed buy-and-hold line. Log scale.
0% -15% -31% -46% -61% 2004 2007 2010 2013 2016 2019 2022 2025 Buy and holdDonchian 채널 돌파
Donchian 채널 돌파 maximum drawdown -57.9% (2006-01-31 → 2008-12-23), recovered after 2,997 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

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