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Trend-Following Backtester · Guide · backtest 한국어

equity · NO

Atea ASA backtest

10 trend-following strategies were compared on the full daily history of Atea ASA. 9 beat buy-and-hold CAGR; 볼린저 밴드 돌파 ranks first by Sharpe, matching the main backtester. The return/drawdown alternative is 볼린저 밴드 돌파 (CAGR 4.7%, MDD -15.3%).

Data 2000-01-03 ~ 2026-07-31daily bars 6,738 (26.6 years)Costs 0.5%Venue OSLMonthly snapshot 2026-07-31

Results by strategy

9 of 10 beat buy and hold (CAGR -5.7%, drawdown -98.7%).

Sharpe leader (same as main): 볼린저 밴드 돌파 — CAGR 4.7%, MDD -15.3%, Sharpe 0.51, 8% exposure.

CAGR reference leader: EMA 크로스오버 — CAGR 8.2%, MDD -55.8%, exposure 51%.

Return/drawdown alternative: 볼린저 밴드 돌파 — CAGR is 10.4%p higher than buy and hold, while drawdown improves by 83.4%p (CAGR 4.7%, MDD -15.3%, exposure 8%).

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
볼린저 밴드 돌파
n=50, k=3.5
4.7%-15.3%0.510.313.4x168%
EMA 크로스오버
fast=18, slow=36
8.2%-55.8%0.420.158.0x12551%
SMA 크로스오버
fast=19, slow=50
6.7%-68.7%0.370.105.6x13051%
Donchian 채널 돌파
entryN=64, exitN=26
5.6%-53.8%0.360.104.3x6837%
Keltner 채널 돌파
emaPeriod=43, atrPeriod=25, mult=3.8
2.8%-32.2%0.260.092.1x5417%
Supertrend
period=28, mult=3.8
1.4%-80.6%0.200.021.5x11350%
ROC 모멘텀
n=68, threshold=0.13
1.7%-59.3%0.180.031.6x22924%
ADX / DI 방향성
period=31, threshold=23
0.6%-31.9%0.110.021.2x449%
Parabolic SAR
step=0.005, maxStep=0.26
-2.7%-86.9%0.07-0.030.5x19951%
MACD
fast=17, slow=72, signal=12
-11.2%-97.3%-0.20-0.110.0x32953%
Buy and hold-5.7%-98.7%0.11-0.060.2x1100%
0.1 1x 10x 2001 2005 2009 2013 2017 2021 2025 EMA 크로스오버볼린저 밴드 돌파Buy and hold
볼린저 밴드 돌파 (Sharpe leader), EMA 크로스오버 (CAGR reference), Buy and hold.
0% -25% -49% -74% -99% 2001 2005 2009 2013 2017 2021 2025 Buy and holdEMA 크로스오버볼린저 밴드 돌파
볼린저 밴드 돌파 maximum drawdown -15.3% (2021-04-29 → 2026-04-29), prior peak not yet recovered.

Rules of the top strategy

Breaking above the upper band (average plus a multiple of volatility) signals a strong move up.

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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