Elegant Oscillator Backtest [loxx]

Script from: TradingViewSwingTrend followingMean reversionVolatilityCandlestick

The Elegant Oscillator Backtest leverages John Elhers' Oscillator to help traders identify mean reversions with a normalized IF transform. It offers customizable features like baseline filtering, ATR qualifiers, up to 3 take profit levels, and trailing take profit. Supports long/short entries and continuation trades with adjustable backtest date ranges. Ensure take profit percentage totals 100% across selected levels.

Audit verdict

Not rankedUpdated Jul 28, 2026

No reliable edge found

Its average result can't be told apart from chance, so it stays out of our rankings.

1,140backtests3 markets

23robust scoreranked median 52

0.34p-valueranked median 0.24

7/41pass quality gatebacktests >15 trades

Audit details

How we decide whether a strategy enters our rankings. Read the methodology →

–

Repainting audit

Not run yet.

✓

Script availability

Closed-source, still published on TradingView.

Statistical edge

Average t-statistic 1.46 (p = 0.34), below the median of 1.98 (p = 0.24) for ranked strategies.

✓

Quality gate

7 of 41 backtests with more than 15 trades pass our quality gate.

Robust score

23/100, below the median of 52 for ranked strategies.

How its evidence compares

The t-statistic measures how far the average result sits from zero relative to its noise. Below about 2, it is within what random entries produce.

1.46

avg. t-statistic

1.98

median, ranked strategies

Best 5 of 1,140 backtests

Shown for transparency.

Symbol	Timeframe	Net profit	Profit factor	Trades	Max drawdown
CRUDE OIL FUTURES (CONTINUOUS: CURRENT CONTRACT IN FRONT) NYMEX:CL1!	2H	+343%	1.33	715	30%
PSQ Holdings, Inc. NYSE:PSQH	1H	+94%	1.15	214	45%
Rivian Automotive, Inc. NASDAQ:RIVN	4H	+80%	1.36	67	22%
Renault EURONEXT:RNO	1D	+63%	1.36	83	17%
Rent the Runway, Inc. NASDAQ:RENT	5m	+61%	1.09	573	41%

⚠Selected after the fact: these are the best 5 of 1,140 runs, not what to expect from this strategy.

Is Elegant Oscillator Backtest [loxx] profitable?

Not reliably, based on our tests. Across 1,140 backtests, 7 of 41 with more than 15 trades pass our quality gate. The best result is +343% on CRUDE OIL FUTURES (CONTINUOUS: CURRENT CONTRACT IN FRONT) (2H, 715 trades). On average, its results are statistically indistinguishable from chance (p = 0.34).

Strategies that passed our audit

Ranked strategies from the same family, ordered by robust score.

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54/100robust score

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69/100robust score

6/107backtests pass quality gate

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