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Trend-Following Backtester · Guide · backtest 한국어

equity · US

Hallador Energy Company backtest

10 trend-following strategies were compared on the full daily history of Hallador Energy Company. 1 beat buy-and-hold CAGR; Donchian 채널 돌파 ranks first by Sharpe, matching the main backtester.

Data 1994-04-06 ~ 2026-07-31daily bars 8,134 (32.3 years)Costs 0.5%Venue XNASMonthly snapshot 2026-07-31

Results by strategy

1 of 10 beat buy and hold (CAGR 5.5%, drawdown -95.6%).

Sharpe leader (same as main): Donchian 채널 돌파 — CAGR 7.0%, MDD -94.4%, Sharpe 0.52, 95% exposure.

No strategy retained at least 75% of buy-and-hold CAGR while reducing drawdown by both 20% relatively and 5 percentage points absolutely.

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=4, exitN=182
7.0%-94.4%0.520.079.0x10695%
SMA 크로스오버
fast=56, slow=61
3.7%-93.4%0.400.043.2x22849%
MACD
fast=5, slow=29, signal=6
-5.9%-100.0%0.32-0.060.1x78855%
EMA 크로스오버
fast=66, slow=191
0.9%-88.6%0.310.011.3x4449%
ROC 모멘텀
n=99, threshold=-0.07
-8.2%-99.7%0.29-0.080.1x26859%
ADX / DI 방향성
period=31, threshold=8
-15.6%-99.9%0.16-0.160.0x29846%
Parabolic SAR
step=0.055, maxStep=0.24
-24.6%-100.0%0.03-0.250.0x76841%
Keltner 채널 돌파
emaPeriod=115, atrPeriod=5, mult=3.6
-18.5%-100.0%0.01-0.190.0x10033%
볼린저 밴드 돌파
n=58, k=2.9
-15.1%-99.9%-0.00-0.150.0x8021%
Supertrend
period=13, mult=3.8
-26.7%-100.0%-0.07-0.270.0x18844%
Buy and hold5.5%-95.6%0.520.065.7x1100%
1x 10x 1995 1999 2003 2007 2011 2015 2019 2023 Donchian 채널 돌파Buy and hold
Donchian 채널 돌파: Solid strategy line versus dashed buy-and-hold line. Log scale.
0% -24% -48% -72% -96% 1995 1999 2003 2007 2011 2015 2019 2023 Buy and holdDonchian 채널 돌파
Donchian 채널 돌파 maximum drawdown -94.4% (2010-06-15 → 2020-09-23), recovered after 4,574 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 setupMore US assetsAll asset reports

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