The Optimal Parameters Of MACD Indicators Research On A Technical Strategy For Quantifying Investment

In 1970,Fama put forward the "effective market hypothesis" and elaborated three forms of the effective market hypothesis on the basis of the rational person hypothesis.After this,EMM continued to develop and eventually became one of the pillars of modern finance.EMM believes that any predictive investment strategy cannot achieve excess returns when the market reaches an effective state.Since the 1970 s,with the development of financial market econometric techniques,financial scientists have found some phenomena that are inconsistent with the effective market hypothesis,such as market value effects,calendar effects,and so on.Investors can use these historical laws to establish investment models to obtain excess returns.Scholars combine financial theory with investors' decision-making minds to explain the existence of these visions in the market and believe that they are mainly caused by investors' cognitive biases.It is precisely because of these irrational decisions that the market is not always in an effective state,and investors can obtain excess returns through technical analysis or other methods.Technical analysis is often of a mystical color.With the proposed wax figures and Daws theory,attracting more and more scholar traders to study this,in many technical analysis tools,the indicators are often used by investors,so this article based on the classical definition of MACD indicators,an empirical study of its optimal parameters is conducted.This article takes the 2016-2017 CSI 300 stocks as a sample,through the optimization investment platform of excellent mines,constructs a MACD optimal parameter model,sets the corresponding range of its three parameters,and uses a three-level cycle with a step size of 1,in order to grow,so as to obtain the corresponding backtesting indicators for each parameter,and finally select the optimal MACD parameters according to the evaluation criteria of the indicators.Through empirical research,it is found that the general parameters of MACD(12,26,9)are not the optimal parameters of all stocks.On this basis,it is concluded that(18,22,9)is the highest proportion of the optimal parameters.However,the optimal parameters of different stocks are constantly changing with the market.Therefore,in the actual research or investment in the future,when the MACD indicator is used as a reference indicator,the best parameters should be sought based on the specific research object.