Trend-Following Backtester · Guide · backtest 한국어

equity · TW

Formosa Petrochemical Corp backtest

10 trend-following strategies were compared on the full daily history of Formosa Petrochemical Corp. 2 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 4.3%, MDD -41.9%).

Data 2003-12-26 ~ 2026-07-31daily bars 5,570 (22.6 years)Costs 0.5%Venue TWSEMonthly snapshot 2026-07-31

Results by strategy

2 of 10 beat buy and hold (CAGR 3.1%, drawdown -79.2%).

Sharpe leader (same as main): Donchian 채널 돌파 — CAGR 4.3%, MDD -41.9%, Sharpe 0.32, 38% exposure.

Return/drawdown alternative: Donchian 채널 돌파 — CAGR is 1.2%p higher than buy and hold, while drawdown improves by 37.3%p (CAGR 4.3%, MDD -41.9%, exposure 38%).

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=143, exitN=75
4.3%-41.9%0.320.102.6x1738%
SMA 크로스오버
fast=48, slow=137
4.2%-51.9%0.310.082.5x3552%
EMA 크로스오버
fast=56, slow=247
2.8%-48.6%0.240.061.9x1950%
ADX / DI 방향성
period=33, threshold=39
0.1%-3.1%0.100.031.0x40%
ROC 모멘텀
n=136, threshold=0.02
-0.3%-61.8%0.08-0.010.9x19145%
Supertrend
period=36, mult=5
-2.1%-74.8%-0.01-0.030.6x6455%
Keltner 채널 돌파
emaPeriod=11, atrPeriod=15, mult=3.8
-0.2%-16.8%-0.01-0.011.0x81%
볼린저 밴드 돌파
n=58, k=2.8
-1.9%-57.9%-0.09-0.030.7x4314%
Parabolic SAR
step=0.005, maxStep=0.3
-4.0%-82.6%-0.11-0.050.4x17551%
MACD
fast=16, slow=51, signal=18
-7.4%-90.1%-0.28-0.080.2x27550%
Buy and hold3.1%-79.2%0.250.042.0x1100%
1x 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% -20% -40% -59% -79% 2004 2007 2010 2013 2016 2019 2022 2025 Buy and holdDonchian 채널 돌파
Donchian 채널 돌파 maximum drawdown -41.9% (2018-10-01 → 2025-10-03), recovered after 2,716 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

Read next