Nasdaq-100 (Oct 2023), new-high trend

The rules

Buy at the next minute's open after an hourly close reaches the stock's record, its highest session close on file, and sell at the next open after an hourly close falls below a trailing stop. The stop starts 10 average true ranges below the entry close, and each session raises it, never lowers it, to the record less 10 average true ranges as a share of that session's close. The average true range covers 42 sessions (Wilder's). 1% of the account per stock; money not in a stock stays in cash.

Universe

The 93 Nasdaq-100 members on October 27, 2023, the last session before the test, that still traded under their tickers on October 30, 2026: AAPL, ABNB, ADBE, ADI, ADP, ADSK, AEP, ALGN, AMAT, AMD, AMGN, AMZN, ASML, AVGO, BIIB, BKNG, BKR, CDNS, CEG, CHTR, CMCSA, COST, CPRT, CRWD, CSCO, CSGP, CSX, CTAS, CTSH, DDOG, DLTR, DXCM, EBAY, ENPH, EXC, FANG, FAST, FTNT, GEHC, GFS, GILD, GOOGL, HON, IDXX, ILMN, INTC, INTU, ISRG, JD, KDP, KHC, KLAC, LCID, LRCX, LULU, MAR, MCHP, MDLZ, MELI, META, MNST, MRNA, MRVL, MSFT, MU, NFLX, NVDA, NXPI, ODFL, ON, ORLY, PANW, PAYX, PCAR, PDD, PEP, PYPL, QCOM, REGN, ROST, SBUX, SNPS, TEAM, TMUS, TSLA, TTD, TXN, VRSK, VRTX, WDAY, XEL, ZM, ZS

Bars

hourly

Position size

1% of equity per stock at entry, never rebalanced

Rebalance

Checks every hourly close; the stop moves once a session

Results

Hypothetical: a backtest with modeled costs, not traded with real money.

Hypothetical growth of $10,000

Rebuild it in Orbital

Paste this into Orbital Chat. The Strategy Developer builds the workflow and asks before it runs any backtest.

Trade AAPL, ABNB, ADBE, ADI, ADP, ADSK, AEP, ALGN, AMAT, AMD, AMGN, AMZN, ASML, AVGO, BIIB, BKNG, BKR, CDNS, CEG, CHTR, CMCSA, COST, CPRT, CRWD, CSCO, CSGP, CSX, CTAS, CTSH, DDOG, DLTR, DXCM, EBAY, ENPH, EXC, FANG, FAST, FTNT, GEHC, GFS, GILD, GOOGL, HON, IDXX, ILMN, INTC, INTU, ISRG, JD, KDP, KHC, KLAC, LCID, LRCX, LULU, MAR, MCHP, MDLZ, MELI, META, MNST, MRNA, MRVL, MSFT, MU, NFLX, NVDA, NXPI, ODFL, ON, ORLY, PANW, PAYX, PCAR, PDD, PEP, PYPL, QCOM, REGN, ROST, SBUX, SNPS, TEAM, TMUS, TSLA, TTD, TXN, VRSK, VRTX, WDAY, XEL, ZM and ZS on 1-hour bars, built as a program that keeps each session's high, low and close. Buy when an hourly close reaches the highest session close on file; set a stop 10 average true ranges (42-session, Wilder) below the entry, and each session raise it, never lower it, to the record less 10 ATR as a share of that session's close. Sell on an hourly close below the stop. 1% of equity per stock, long only. Backtest from October 30, 2023 to October 30, 2026 with $1,000,000.

Is it real?

Strategies tested together

15

Beta to SPY

0.48

Alpha vs SPY

−4.9% a year

Costs paid

$1,800, 1% of the gain before costs

Data

1h decisions on 1-minute bars, 754 sessions

Fills

Next open at market, sized at the fill

Read this before you trust it

This basket uses no hindsight: the Nasdaq-100 as it stood the day before the test began, from its published membership. Alphabet is held once, as GOOGL, and seven members are out because they stopped trading here before the test ended: SGEN, SIRI, ANSS, WBA, AZN, EA and WBD. Its runs start with $1,000,000 so that a 1% share buys whole shares of the dearest members; at $100,000 a stock above $1,000 could never be bought. Picked on November 8, 2026 by a rule written before any run: published evidence, yearly costs at most a quarter of the published gross return, buildable in Orbital, and the source's own parameters. Every rule is published whatever it shows. Orbital's engine cannot rank entries for a program that decides more often than daily, so instead of the source's position cap each stock gets an equal share and every signal is taken. Orbital's minute data starts in September 2023, so the session records start on October 2, 2023: early in the test a record is a short one. The selection expected it to finish near or below SPY.