The best indicator for Illinois Tool Works (ITW)
We backtested 366 indicators across daily, weekly and hourly charts on real Illinois Tool Works (ITW) history. Here's what actually worked — risk-adjusted, out-of-sample, with costs.
QQE
On the weekly chart, this is the strongest risk-adjusted edge we found for Illinois Tool Works (ITW) over ~53.4 years — beating buy-and-hold by 0.3% CAGR.
Best multi-indicator combo
Going long only when all 2 agree was the strongest confluence setup we found for Illinois Tool Works (ITW) — trailing buy-and-hold by 8.6% CAGR, out-of-sample. Fewer, higher-conviction trades than any single indicator.
The winner on each chart
Every indicator, ranked
Ranked by Sharpe (risk-adjusted return). Hypothetical, fees included.
| # | Indicator | TF | CAGR | Sharpe | Max DD | Win | Trades | vs B&H |
|---|---|---|---|---|---|---|---|---|
| 1 | QQE ✓ | Weekly | 12.5% | 0.6 | -47.8% | 50.3% | 161 | 0.3% |
| 2 | McGinley 200 Trend ✓ | Daily | 12.0% | 0.56 | -54.9% | 19.4% | 31 | -0.3% |
| 3 | Markov Regime ✓ | Daily | 11.7% | 0.56 | -54.9% | 44.9% | 118 | -0.5% |
| 4 | VIDYA 200 Trend ✓ | Daily | 11.0% | 0.55 | -60.8% | 43.2% | 37 | -1.2% |
| 5 | McGinley 30 Trend ✓ | Weekly | 11.4% | 0.55 | -53.9% | 34.8% | 23 | -0.8% |
| 6 | Intraday Momentum Index ✓ | Daily | 8.2% | 0.54 | -39.4% | 68.8% | 170 | -4.1% |
| 7 | McGinley 200 Trend ✓ | Weekly | 11.6% | 0.57 | -53.9% | 21.4% | 14 | -0.6% |
| 8 | Detrended Price Osc. ✓ | Weekly | 8.7% | 0.53 | -37.9% | 60.4% | 313 | -3.5% |
| 9 | McGinley 100 Trend ✓ | Weekly | 11.4% | 0.56 | -53.9% | 35.7% | 14 | -0.8% |
| 10 | Center of Gravity ✓ | Weekly | 7.9% | 0.52 | -37.5% | 51.5% | 344 | -4.3% |
| 11 | VWAP Bands ✓ | Weekly | 5.7% | 0.52 | -24.6% | 91.9% | 37 | -6.5% |
| 12 | SMC: Change of Character ✓ | Weekly | 9.1% | 0.52 | -47.1% | 77.8% | 27 | -3.1% |
| 13 | Holy Grail Confluence ✓ | Daily | 7.3% | 0.51 | -49.7% | 78.4% | 88 | -5.0% |
| 14 | Negative Volume Index ✓ | Weekly | 9.4% | 0.51 | -40.8% | 59.3% | 27 | -2.8% |
✓ = held up out-of-sample. Hypothetical, costs included. See methodology.
For Illinois Tool Works (ITW), QQE on the weekly timeframe gave the best balance of return and risk in our test. It beat buy-and-hold — but remember: this is a hypothetical backtest of a standard rule, not a recommendation. Markets change. See the methodology and disclaimer.
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