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wavealgo / Research report Public sample
STRATEGY AUDIT
ConditionalGolden Cross (SMA 50/200)
Out of sample · Fees included · Same rulebook
Alpha score49 / 100
OOS Sharpe0.78
Positive cells17 / 18
vs. buy & hold+783.1 pp
Window startWindow end
Market × timeframe Sharpe
| Market | 1H | 4H | 1D |
|---|---|---|---|
| BTCUSD | 0.70 | 0.92 | 0.60 |
| ETHUSD | 0.74 | 0.99 | 0.56 |
| SPX500 | 1.82 | 0.85 | 0.66 |
| QQQ | 1.54 | 0.81 | 0.88 |
| GOLD | 1.18 | 1.47 | 0.37 |
| EURUSD | 0.08 | 0.21 | -0.11 |
Historical evidence. Forward results stay separate.Inspect report
Better questions. Measurable answers.
6 markets
One idea, different conditions
18 audit cells
Markets × timeframes
20 public audits
Including the ones that fail
0.05% per fill
Costs included in the audit
The research workflowFrom a promising idea
Our methodology From a promising idea
to a clearer picture.
Three levels of evidence. A thoughtful next step at every stage of your research.
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The same conditions for every strategy. Explore the full catalog, including the results that didn’t hold up.
Verified0
Conditional16
Repaints0
No alpha4
Reference strategyVerdictAlpha score
01Golden Cross (SMA 50/200)Conditional49 / 10002Keltner Breakout (20, 2)Conditional44 / 10003EMA Cross (9/21)Conditional42 / 10004ATR Channel Breakout (20, 2×ATR14)Conditional42 / 10005Donchian Breakout (20/10)Conditional40 / 100Measured 2026-08-08 · Out of sample · Historical results, not a recommendation to trade.
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From the journal
All field notes Research, in the open.
We ran every public Pine strategy we could find against six markets on daily bars, under four guards published before the run. Two script-market measurements cleared all four — and neither has fills we can confirm.
Three ways to find out whether a Pine strategy holds up. TradingView tests one symbol at a time, Backtrader needs a hand port, and wavealgo runs one fixed 18-cell grid so two scripts land on the same yardstick.
Three quarters of the corpus sweep was discarded before a single guard ran. Here is every bucket with its count — including the largest one, which is partly our fault.
Do the classic Pine Script strategies actually work?
Measured across 18 market and timeframe cells, out of sample, with a 0.05% fee on every fill: none of the 20 best-known public techniques earned a Verified verdict. 16 came back Conditional, meaning an edge appeared in part of the grid but not across it, 4 showed no alpha at all, and 17 of 20 finished behind simply holding the asset.
Is the Golden Cross strategy profitable?
It is the highest-scoring script in the catalog at 49 out of 100, with a composite Sharpe of 0.78 across the 18 cells and 17 of them positive. Its verdict is Conditional, not Verified, and it beats buy-and-hold by 783.1 percentage points over the same window.
How many public Pine scripts survive a fair test?
In a sweep of 12,424 public scripts, 4,595 measurements remained after eligibility filtering and duplicate collapse. Four guards were applied — positive out-of-sample Sharpe, a 20 basis point cost floor, beating buy-and-hold, and a deflated Sharpe of 0.95 — and two cleared all four. Neither has fills that daily bars can confirm.
Can you run Pine Script outside TradingView?
Yes. resin is an open-source (Apache-2.0) compiler and runtime for Pine v5 and v6 that turns a script into a plain JavaScript module, so it runs in a browser, in CI, or in a backtest of your own. It is verified bar-by-bar against an independent implementation on 251 of 257 corpus scripts, and it is what executes every script measured on this site.
Why do backtests look better than live results?
Three reasons dominate, and each is a rule here rather than an opinion. Parameters fitted on the same window they are scored on will flatter themselves, so the measured window is out of sample. Costs compound, so a fee is charged on every fill rather than subtracted at the end. And beating zero is not an edge, so the comparison is against holding the asset over the identical window.
Evidence with its context.
Conditional is not a recommendation
It means an edge appeared in part of the grid — which is also what overfitting looks like from the outside.
Fills are documented, not reconciled
Orders follow TradingView’s next-bar-open rule, but have not been matched trade-by-trade against it. Treat absolute returns as provisional.
Twenty is a catalog, not a population
The reference catalog is the classics. The wider corpus sweep is where the real distribution lives.
A better way to ask
“does this actually work?”
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