Trend-Following Backtester · Guide · backtest 한국어

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PT Kalbe Farma Tbk backtest

10 trend-following strategies were compared on the full daily history of PT Kalbe Farma Tbk. 3 beat buy-and-hold CAGR; Donchian 채널 돌파 ranks first by Sharpe, matching the main backtester. The return/drawdown alternative is Donchian 채널 돌파 (CAGR 15.1%, MDD -30.8%).

Data 2003-12-15 ~ 2026-07-31daily bars 5,587 (22.6 years)Costs 0.5%Venue IDXMonthly snapshot 2026-07-31

Results by strategy

3 of 10 beat buy and hold (CAGR 13.6%, drawdown -76.9%).

Sharpe leader (same as main): Donchian 채널 돌파 — CAGR 15.1%, MDD -30.8%, Sharpe 0.69, 62% exposure.

Return/drawdown alternative: Donchian 채널 돌파 — CAGR is 1.5%p higher than buy and hold, while drawdown improves by 46.1%p (CAGR 15.1%, MDD -30.8%, exposure 62%).

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=49, exitN=78
15.1%-30.8%0.690.4924.3x2862%
SMA 크로스오버
fast=57, slow=141
13.7%-45.4%0.640.3018.4x3657%
EMA 크로스오버
fast=27, slow=206
11.4%-41.5%0.550.2711.4x3064%
볼린저 밴드 돌파
n=50, k=2
9.0%-47.0%0.540.197.1x8434%
Supertrend
period=16, mult=4.3
14.1%-63.3%0.520.2219.8x6261%
Keltner 채널 돌파
emaPeriod=54, atrPeriod=18, mult=2.4
9.0%-42.8%0.520.217.0x7636%
ADX / DI 방향성
period=38, threshold=18
8.4%-35.7%0.500.246.2x4822%
ROC 모멘텀
n=91, threshold=-0.08
6.5%-66.9%0.370.104.2x15271%
Parabolic SAR
step=0.005, maxStep=0.38
3.4%-71.5%0.240.052.1x15152%
MACD
fast=19, slow=55, signal=18
-5.1%-86.3%-0.09-0.060.3x23549%
Buy and hold13.6%-76.9%0.490.1818.0x1100%
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% -19% -38% -58% -77% 2004 2007 2010 2013 2016 2019 2022 2025 Buy and holdDonchian 채널 돌파
Donchian 채널 돌파 maximum drawdown -30.8% (2023-02-10 → 2025-09-01), prior peak not yet recovered.

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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