Trend-Following Backtester · Guide · backtest 한국어

equity · GR

Piraeus Bank S.A. backtest

10 trend-following strategies were compared on the full daily history of Piraeus Bank S.A.. 10 beat buy-and-hold CAGR; Donchian 채널 돌파 ranks first by Sharpe, matching the main backtester. The return/drawdown alternative is Keltner 채널 돌파 (CAGR 7.5%, MDD -63.6%).

Data 1986-01-02 ~ 2026-07-31daily bars 10,357 (40.6 years)Costs 0.5%Venue ATHEXMonthly snapshot 2026-07-31

Results by strategy

10 of 10 beat buy and hold (CAGR -25.0%, drawdown -100.0%).

Sharpe leader (same as main): Donchian 채널 돌파 — CAGR 9.9%, MDD -72.2%, Sharpe 0.49, 36% exposure.

Return/drawdown alternative: Keltner 채널 돌파 — CAGR is 34.9%p higher than buy and hold, while drawdown improves by 27.8%p (CAGR 7.5%, MDD -63.6%, exposure 29%).

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=42, exitN=15
9.9%-72.2%0.490.1446.3x15536%
볼린저 밴드 돌파
n=46, k=2.3
8.8%-68.8%0.460.1331.2x12525%
Keltner 채널 돌파
emaPeriod=45, atrPeriod=17, mult=2.7
7.5%-63.6%0.420.1218.8x13629%
Supertrend
period=13, mult=4.9
8.4%-77.0%0.410.1126.4x13945%
EMA 크로스오버
fast=39, slow=175
7.1%-75.0%0.410.0916.2x5142%
SMA 크로스오버
fast=22, slow=201
6.2%-88.7%0.360.0711.4x6345%
ADX / DI 방향성
period=14, threshold=22
5.4%-86.2%0.330.068.4x35227%
ROC 모멘텀
n=148, threshold=0.02
5.3%-93.3%0.330.068.2x14332%
Parabolic SAR
step=0.005, maxStep=0.16
5.0%-84.0%0.310.067.3x28350%
MACD
fast=17, slow=58, signal=17
-6.6%-99.5%0.04-0.070.1x38352%
Buy and hold-25.0%-100.0%-0.19-0.250.0x1100%
0.000001 0.00001 0.0001 0.001 0.01 0.1 1x 10x 1987 1992 1997 2002 2007 2012 2017 2022 Donchian 채널 돌파Buy and hold
Donchian 채널 돌파: Solid strategy line versus dashed buy-and-hold line. Log scale.
0% -25% -50% -75% -100% 1987 1992 1997 2002 2007 2012 2017 2022 Buy and holdDonchian 채널 돌파
Donchian 채널 돌파 maximum drawdown -72.2% (2013-05-17 → 2016-04-13), recovered after 2,152 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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