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Trend-Following Backtester · Guide · backtest 한국어

equity · GB

Marston's PLC backtest

10 trend-following strategies were compared on the full daily history of Marston's PLC. 10 beat buy-and-hold CAGR; Keltner 채널 돌파 ranks first by Sharpe, matching the main backtester. The return/drawdown alternative is 볼린저 밴드 돌파 (CAGR 1.8%, MDD -28.1%).

Data 1988-07-01 ~ 2026-07-31daily bars 9,766 (38.1 years)Costs 0.5%Venue LSEMonthly snapshot 2026-07-31

Results by strategy

10 of 10 beat buy and hold (CAGR -1.5%, drawdown -93.5%).

Sharpe leader (same as main): Keltner 채널 돌파 — CAGR 4.3%, MDD -33.2%, Sharpe 0.39, 17% exposure.

Return/drawdown alternative: 볼린저 밴드 돌파 — CAGR is 5.8%p higher than buy and hold, while drawdown improves by 60.3%p (CAGR 1.8%, MDD -28.1%, exposure 18%).

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
Keltner 채널 돌파
emaPeriod=12, atrPeriod=19, mult=3.4
4.3%-33.2%0.390.135.0x17217%
Donchian 채널 돌파
entryN=55, exitN=23
3.7%-40.5%0.290.094.1x12137%
볼린저 밴드 돌파
n=55, k=2.7
1.8%-28.1%0.210.072.0x7218%
Parabolic SAR
step=0.01, maxStep=0.22
2.6%-79.7%0.210.032.6x41453%
Supertrend
period=10, mult=2.2
2.4%-84.2%0.200.032.4x51446%
ROC 모멘텀
n=109, threshold=-0.07
1.7%-80.0%0.180.021.9x22072%
MACD
fast=15, slow=25, signal=19
1.7%-76.8%0.180.021.9x42854%
EMA 크로스오버
fast=39, slow=146
0.9%-64.1%0.140.011.4x6756%
SMA 크로스오버
fast=10, slow=201
0.6%-68.5%0.120.011.2x9051%
ADX / DI 방향성
period=22, threshold=17
-0.4%-78.0%0.08-0.010.9x30034%
Buy and hold-1.5%-93.5%0.13-0.020.6x1100%
1x 1989 1994 1999 2004 2009 2014 2019 2024 Keltner 채널 돌파Buy and hold
Keltner 채널 돌파: Solid strategy line versus dashed buy-and-hold line. Log scale.
0% -23% -47% -70% -94% 1989 1994 1999 2004 2009 2014 2019 2024 Buy and holdKeltner 채널 돌파
Keltner 채널 돌파 maximum drawdown -33.2% (2000-09-08 → 2003-03-10), recovered after 5,254 days.

Rules of the top strategy

Breaking above the channel top (average plus a multiple of volatility) signals an upside breakout.

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.
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