feat: Live-Paper-Engine — 5-min-Loop, API, Dashboard, Dockerfile

processCycle spiegelt Runner-Semantik exakt (Paritätstest gegen runBacktest), Restart-Recovery über Cursor, DecisionLog mit Outcome-Backfill, Bun.serve-API + statisches Dashboard, Deploy-Ziel trading.kuns.dev. Co-Authored-By: Claude Fable 5 <noreply@anthropic.com>
feat: Schema für Live-Engine (positions, paper_trades, decision_logs, bot_state, equity_snapshots)
2026-06-10 06:11:44 +00:00 · 2026-06-10 06:11:44 +00:00 · 2026-06-10 06:11:44 +00:00 · 2026-06-09 22:11:25 +00:00 · 2026-06-09 22:09:22 +00:00 · 2026-06-09 22:09:16 +00:00
30 changed files with 2524 additions and 68 deletions
--- a/.dockerignore
+++ b/.dockerignore
@@ -0,0 +1,5 @@
+.git
+node_modules
+docs
+.env
+*.md
--- a/13
+++ b/13
@@ -0,0 +1,13 @@
+FROM oven/bun:1.3
+
+WORKDIR /app
+COPY package.json bun.lock ./
+RUN bun install --frozen-lockfile --production
+
+COPY . .
+
+EXPOSE 8080
+HEALTHCHECK --interval=30s --timeout=5s --start-period=30s \
+  CMD bun -e "fetch('http://localhost:8080/health').then(r => process.exit(r.ok ? 0 : 1)).catch(() => process.exit(1))"
+
+CMD ["bun", "run", "start"]
--- a/docs/specs/2026-06-10-live-paper-engine-design.md
+++ b/docs/specs/2026-06-10-live-paper-engine-design.md
@@ -0,0 +1,127 @@
+# trade-kuns — Live-Paper-Engine (Phase 3, Design)
+
+**Datum:** 2026-06-10
+**Status:** Umsetzung (User-Entscheidung: bewusster Paper-Probelauf)
+**Basis:** Spec `2026-06-09-trade-kuns-design.md` §4.3–4.6, §6, §8
+
+---
+
+## 1. Kontext & Entscheidung
+
+Das Walk-Forward-Gate wurde von keiner der 7 Varianten bestanden (siehe
+`docs/walkforward-ergebnisse-2026-06-09.md`). Beste Variante: **long-only mit
+fixen Spec-Default-Parametern** (Donchian 20 / ATR×3 / EMA 200 / ADX 20) —
+OOS-PF 1.21, 249 Trades, MaxDD 16 %, Overfitting-Ratio 1.51; einziger
+Fail: 11/32 Fenster mit PF < 0.5.
+
+**Entscheidung (User, 2026-06-10):** Live-**Paper**-Engine bauen und diese
+Variante im Paper-Probelauf validieren. Das Gate wird nicht aufgeweicht —
+der Paper-Lauf *ist* die nächste Validierungsstufe. Kein echtes Geld, keine
+Order-Ausführung, keine Schreib-API-Keys (Spec §10 unverändert).
+
+## 2. Abweichungen von der Ursprungs-Spec
+
+| Spec | Jetzt | Grund |
+|---|---|---|
+| Subdomain `trade.kuns.dev` | **`trading.kuns.dev`** | User-Vorgabe |
+| Hono | **`Bun.serve`** | 6 GET-Routen, kein Framework nötig |
+| Vue 3 + Vite Dashboard | **statische Single-Page** (Vanilla JS, Canvas-Chart) | kein Build-Step, kein Over-Engineering |
+| Zitadel-JWT-Auth | **keine Auth** | API ist read-only (Paper-Daten, nichts Sensibles); Schreib-Endpoints (`toggle`/`reset`/`config`) entfallen in v1 |
+| Port 8080 | 8080 | unverändert |
+
+## 3. Architektur
+
+Ein Bun-Prozess (`src/server/index.ts`): HTTP-Server + 5-min-Loop.
+
+```
+src/server/
+  live/
+    engine.ts        LiveEngine: Zyklus-Orchestrierung, Recovery, Persistenz
+    process-cycle.ts pure Funktion: (candles, state) → actions (Entries/Exits/Decisions/Equity)
+  api/
+    server.ts        Bun.serve: /health, /api/*, statisches Dashboard
+  db/schema.ts       + positions, paper_trades, decision_logs, bot_state, equity_snapshots
+public/index.html    Dashboard
+```
+
+**Ein Code-Pfad-Prinzip bleibt:** `process-cycle.ts` nutzt exakt dieselben
+puren Funktionen wie der Backtest-Runner (`computeIndicators`, `evaluateAt`,
+`updateChandelier`, `sizePosition`, `Portfolio`) mit identischer Semantik:
+4h-Entries (Close > Donchian-High(20) ∧ Close > EMA-200 ∧ ADX ≥ 20),
+15m-Stop-Checks (Low ≤ Stop → Exit, Gap → Open als schlechterer Fill),
+Chandelier-Update pro abgeschlossener 4h-Bar, Fees 0.1 % + Slippage 5 bps.
+
+## 4. Zyklus (alle 5 Minuten)
+
+1. **Fetch:** je Pair neueste 15m-Candles von Crypto.com (Lücke seit Cursor,
+   `end_ts`-Paginierung wie Backfill, max 300/Request), nur abgeschlossene
+   (`ts + 15m ≤ now`) → `candles` (Dedup via PK).
+2. **Load:** je Pair letzte ~6500 15m-Candles (≈ 400 4h-Bars — Warmup für
+   EMA-200 + Donchian) aus DB.
+3. **Process** (pure, deterministisch): alle 15m-Candles mit `ts > cursor`
+   chronologisch gemergt (Tie-Break PAIRS-Reihenfolge wie Runner):
+   - neue abgeschlossene 4h-Bars des Pairs: Chandelier-Update → Entry-Evaluation
+     (jede Evaluation → DecisionLog, inkl. Blockierungsgrund/Sizing-Block)
+   - 15m-Stop-Check der offenen Position
+   - Equity-Punkt einmal pro 4h-Bucket
+4. **Persist** (eine Transaktion): Positions-Upsert/Delete, Trades,
+   DecisionLogs, Equity-Snapshots, `bot_state` (cash, cursor).
+5. **Outcome-Backfill:** `decision_logs` mit NULL-Outcomes füllen, sobald
+   Candles 4h/24h/72h später vorliegen (Edge-Frühindikator, Spec §5.5).
+
+**Initialisierung (erster Start):** `bot_state` mit 1000 USDT Cash,
+Cursor = neueste abgeschlossene 15m-Candle. Keine historische Replay —
+der erste mögliche Entry ist der nächste frische 4h-Close.
+
+**Restart-Recovery (Spec §6):** Positionen + Cash + Cursor aus DB; verpasste
+Candles werden nachgeholt und Stops rückwirkend geprüft — identisch zum
+Normalzyklus, da der Prozess-Schritt nur vom Cursor abhängt.
+
+**Fehler:** API-Fehler eines Pairs → Pair in diesem Zyklus überspringen,
+andere laufen weiter; Fetch-Retry (3×, Backoff) existiert im Client.
+DB-Fehler → Zyklus abbrechen, Status rot. Überlappende Zyklen durch
+`running`-Flag verhindert. Letzter Zyklus-Status sichtbar in `/api/portfolio`.
+
+## 5. Datenbank (neu)
+
+- `positions` — pair (PK), side, qty, entry_ts, entry_price, entry_cost,
+  initial_stop, stop, trail_extreme, risk_amount
+- `paper_trades` — id, pair, side, entry/exit (ts+price), qty, pnl, r, exit_reason
+- `decision_logs` — id, pair, bar_ts (4h), signal, blocked_by, close, atr, adx,
+  donchian_high, trend_ema, price_after_4h/24h/72h (nullable), unique(pair, bar_ts)
+- `bot_state` — id=1, cash, start_capital, cursor_ts, updated_at
+- `equity_snapshots` — ts (PK, 4h-Bucket), equity, cash
+
+## 6. API & Dashboard
+
+| Route | Inhalt |
+|---|---|
+| `GET /health` | `{ok, lastCycle, cycleError}` — Coolify-Healthcheck |
+| `GET /api/portfolio` | Equity, Cash, offene Positionen (inkl. Stop, unrealized PnL), Zyklus-Status |
+| `GET /api/trades?limit` | abgeschlossene Trades, neueste zuerst |
+| `GET /api/decisions?pair&limit` | DecisionLog inkl. Outcomes |
+| `GET /api/stats` | PF, WinRate, MaxDD, avgR, Trade-Anzahl, Equity-Kurve |
+| `GET /api/candles?pair&tf=15m|4h&limit` | Candles fürs Dashboard |
+
+Dashboard: eine statische Seite, 30-s-Polling. KPI-Leiste (Equity, PnL, PF,
+WinRate, MaxDD), Equity-Kurve (Canvas), Tabellen: offene Positionen, Trades,
+letzte Decisions je Pair.
+
+## 7. Tests
+
+- `process-cycle`: Determinismus; Entry auf 4h-Close; Stop-Check inkl.
+  Gap-Fill; Cursor-Idempotenz (zweiter Lauf ohne neue Candles = no-op);
+  Restart-Äquivalenz (ein Lauf über N Candles ≡ zwei Läufe mit Cut dazwischen).
+- Engine-Persistenz gegen Test-DB wird nicht automatisiert (kein CI mit DB);
+  manuelle Verifikation beim Deploy.
+
+## 8. Deployment
+
+- Dockerfile `oven/bun:1.3`, Start: Migrationen → Server, Port 8080,
+  Healthcheck `/health`.
+- Coolify-App `trade-kuns`, Domain `https://trading.kuns.dev`, Netz `coolify`.
+- `DATABASE_URL=postgres://mika:…@l8kogcggsc80sgcgk8kswww4:5432/tradekuns`
+  (shared-postgres über Coolify-Docker-Netz; vom Host aus weiterhin
+  `localhost:54320`).
+- Backfill läuft weiter vom Host (`bun run backfill`) oder implizit über den
+  Lücken-Fetch des Loops.
--- a/docs/walkforward-ergebnisse-2026-06-09.md
+++ b/docs/walkforward-ergebnisse-2026-06-09.md
@@ -0,0 +1,45 @@
+# Walk-Forward-Ergebnisse — 2026-06-09
+
+Datenbasis: 103 799 15m-Candles je Pair (BTC/ETH/SOL/XRP_USDT), 2023-06-24 → 2026-06-09 (~3 Jahre,
+Crypto.com-History-Limit). 32 OOS-Fenster (Train 120d → Test 30d, Schritt 30d). Fees 0.1 % + Slippage
+0.05 % je Seite. Alle Läufe in DB `tradekuns.backtest_runs` persistiert.
+
+## Getestete Varianten (chronologisch, jede als Antwort auf einen diagnostizierten Defekt)
+
+| # | Variante | Daten | OOS-PF | Trades | MaxDD | Overfit-Ratio | Gate |
+|---|----------|-------|-------:|-------:|------:|--------------:|------|
+| 1 | Long-only, Grid-Suche | 14 Mon | 0.64 | 65 | 16.7 % | 3.45 | ❌ 3/5 Checks rot |
+| 2 | + Shorts, Grid | 14 Mon | 1.13 | 148 | 24.7 % | 1.52 | ❌ PF + Fenster |
+| 3 | + ADX-Filter (fix 20), Grid | 14 Mon | 1.12 | 117 | 16.9 % | 1.54 | ❌ PF + Fenster |
+| 4 | Long-only, Grid (3 J) | 36 Mon | 1.25 | 214 | 13.8 % | 2.58 | ❌ Fenster + Ratio |
+| 5 | Shorts+ADX, Grid (3 J) | 36 Mon | 1.11 | 405 | 20.1 % | 1.71 | ❌ PF + Fenster |
+| 6 | **Long-only, FIXE Params** (Donchian 20 / ATR×3 / EMA 200 / ADX 20) | 36 Mon | **1.21** | **249** | **16.0 %** | **1.51** | ❌ **nur Fenster-Check** (4/5 ✅) |
+| 7 | Momentum-Rotation (30d/weekly/top-1, fix) | 36 Mon | 0.48 | 61 | 55.2 % | 4.64 | ❌ 4/5 Checks rot |
+
+## Kernbefunde
+
+1. **Shorts verwässern auf 3 Jahren den Edge** (PF 1.25 → 1.11): Krypto-Long-Bias; Breakdowns
+   produzieren mehr Whipsaw als Breakouts. Auf den letzten 14 Monaten (Bärenphase) war es umgekehrt.
+2. **Grid-Suche schadet:** Ratio 2.58 mit Grid vs. 1.51 mit fixen Parametern bei fast gleichem PF.
+   Die Parameterwahl auf Train-Fenstern pickt Rauschen.
+3. **Beste Variante (#6)** hat echten, aber dünnen und klumpigen Edge: +17 % über ~2.4 Jahre OOS,
+   aber **11 von 32 Fenstern verlieren mit PF < 0.5** — darunter die beiden jüngsten
+   (Frühjahr 2026). Trendfolge ist naturgemäß klumpig, aber 34 % schlechte Monate inkl. der
+   aktuellsten ist ein substanzieller Befund, kein Artefakt des strengen Kriteriums.
+4. **Momentum-Rotation (#7) ist in dieser Form unbrauchbar** — auch in-sample durchgehend rot,
+   d. h. kein Overfitting-Problem, sondern kein Edge (Voll-Equity ohne Stops + wöchentliches
+   Nachjagen des Leaders in 4 hochkorrelierten Assets).
+
+## Methodische Notiz
+
+Sieben Varianten gegen dieselben Daten testen erodiert die Aussagekraft des Gates
+(Multiple-Testing). Jede Iteration war eine vorab benannte Antwort auf einen konkreten Defekt,
+nicht freies Fishing — trotzdem gilt: Der eigentliche Beweis wäre ohnehin erst Live-Paper-Trading
+mit dem DecisionLog-Edge-Monitoring. Das Gate-Kriterium „kein Fenster PF < 0.5" wurde für ~13
+Fenster entworfen und skaliert nicht formal mit 32 Fenstern — bei 11/32 schlechten Fenstern ist
+das aber akademisch: Auch ein skaliertes Kriterium (z. B. ≤ 15 % schlechte Fenster) würde reißen.
+
+## Status
+
+**Kein Deploy.** Phase 3 (Live-Engine) wird laut Spec erst gebaut, wenn eine Variante das Gate
+besteht — oder der User das Gate bewusst neu definiert. Entscheidung offen.
--- a/drizzle/0001_certain_omega_red.sql
+++ b/drizzle/0001_certain_omega_red.sql
@@ -0,0 +1,58 @@
+CREATE TABLE "bot_state" (
+	"id" integer PRIMARY KEY NOT NULL,
+	"cash" double precision NOT NULL,
+	"start_capital" double precision NOT NULL,
+	"cursor_ts" timestamp with time zone NOT NULL,
+	"updated_at" timestamp with time zone DEFAULT now() NOT NULL
+);
+--> statement-breakpoint
+CREATE TABLE "decision_logs" (
+	"id" serial PRIMARY KEY NOT NULL,
+	"pair" varchar(16) NOT NULL,
+	"bar_ts" timestamp with time zone NOT NULL,
+	"signal" text,
+	"blocked_by" text,
+	"close" double precision NOT NULL,
+	"atr" double precision,
+	"adx" double precision,
+	"donchian_high" double precision,
+	"trend_ema" double precision,
+	"price_after_4h" double precision,
+	"price_after_24h" double precision,
+	"price_after_72h" double precision
+);
+--> statement-breakpoint
+CREATE TABLE "equity_snapshots" (
+	"ts" timestamp with time zone PRIMARY KEY NOT NULL,
+	"equity" double precision NOT NULL,
+	"cash" double precision NOT NULL
+);
+--> statement-breakpoint
+CREATE TABLE "paper_trades" (
+	"id" serial PRIMARY KEY NOT NULL,
+	"pair" varchar(16) NOT NULL,
+	"side" text NOT NULL,
+	"entry_ts" timestamp with time zone NOT NULL,
+	"entry_price" double precision NOT NULL,
+	"exit_ts" timestamp with time zone NOT NULL,
+	"exit_price" double precision NOT NULL,
+	"qty" double precision NOT NULL,
+	"pnl" double precision NOT NULL,
+	"r" double precision NOT NULL,
+	"exit_reason" text NOT NULL
+);
+--> statement-breakpoint
+CREATE TABLE "positions" (
+	"pair" varchar(16) PRIMARY KEY NOT NULL,
+	"side" text NOT NULL,
+	"qty" double precision NOT NULL,
+	"entry_ts" timestamp with time zone NOT NULL,
+	"entry_price" double precision NOT NULL,
+	"entry_cost" double precision NOT NULL,
+	"initial_stop" double precision NOT NULL,
+	"stop" double precision NOT NULL,
+	"trail_extreme" double precision NOT NULL,
+	"risk_amount" double precision NOT NULL
+);
+--> statement-breakpoint
+CREATE UNIQUE INDEX "decision_logs_pair_bar_ts" ON "decision_logs" USING btree ("pair","bar_ts");
--- a/drizzle/meta/0001_snapshot.json
+++ b/drizzle/meta/0001_snapshot.json
@@ -0,0 +1,466 @@
+{
+  "id": "38fbc5fc-4ef1-4dae-b408-21bcafa513b7",
+  "prevId": "00b411bc-669e-4667-881c-c9161fa42bb0",
+  "version": "7",
+  "dialect": "postgresql",
+  "tables": {
+    "public.backtest_runs": {
+      "name": "backtest_runs",
+      "schema": "",
+      "columns": {
+        "id": {
+          "name": "id",
+          "type": "serial",
+          "primaryKey": true,
+          "notNull": true
+        },
+        "created_at": {
+          "name": "created_at",
+          "type": "timestamp with time zone",
+          "primaryKey": false,
+          "notNull": true,
+          "default": "now()"
+        },
+        "kind": {
+          "name": "kind",
+          "type": "text",
+          "primaryKey": false,
+          "notNull": true
+        },
+        "config": {
+          "name": "config",
+          "type": "jsonb",
+          "primaryKey": false,
+          "notNull": true
+        },
+        "result": {
+          "name": "result",
+          "type": "jsonb",
+          "primaryKey": false,
+          "notNull": true
+        }
+      },
+      "indexes": {},
+      "foreignKeys": {},
+      "compositePrimaryKeys": {},
+      "uniqueConstraints": {},
+      "policies": {},
+      "checkConstraints": {},
+      "isRLSEnabled": false
+    },
+    "public.bot_state": {
+      "name": "bot_state",
+      "schema": "",
+      "columns": {
+        "id": {
+          "name": "id",
+          "type": "integer",
+          "primaryKey": true,
+          "notNull": true
+        },
+        "cash": {
+          "name": "cash",
+          "type": "double precision",
+          "primaryKey": false,
+          "notNull": true
+        },
+        "start_capital": {
+          "name": "start_capital",
+          "type": "double precision",
+          "primaryKey": false,
+          "notNull": true
+        },
+        "cursor_ts": {
+          "name": "cursor_ts",
+          "type": "timestamp with time zone",
+          "primaryKey": false,
+          "notNull": true
+        },
+        "updated_at": {
+          "name": "updated_at",
+          "type": "timestamp with time zone",
+          "primaryKey": false,
+          "notNull": true,
+          "default": "now()"
+        }
+      },
+      "indexes": {},
+      "foreignKeys": {},
+      "compositePrimaryKeys": {},
+      "uniqueConstraints": {},
+      "policies": {},
+      "checkConstraints": {},
+      "isRLSEnabled": false
+    },
+    "public.candles": {
+      "name": "candles",
+      "schema": "",
+      "columns": {
+        "pair": {
+          "name": "pair",
+          "type": "varchar(16)",
+          "primaryKey": false,
+          "notNull": true
+        },
+        "ts": {
+          "name": "ts",
+          "type": "timestamp with time zone",
+          "primaryKey": false,
+          "notNull": true
+        },
+        "open": {
+          "name": "open",
+          "type": "double precision",
+          "primaryKey": false,
+          "notNull": true
+        },
+        "high": {
+          "name": "high",
+          "type": "double precision",
+          "primaryKey": false,
+          "notNull": true
+        },
+        "low": {
+          "name": "low",
+          "type": "double precision",
+          "primaryKey": false,
+          "notNull": true
+        },
+        "close": {
+          "name": "close",
+          "type": "double precision",
+          "primaryKey": false,
+          "notNull": true
+        },
+        "volume": {
+          "name": "volume",
+          "type": "double precision",
+          "primaryKey": false,
+          "notNull": true
+        }
+      },
+      "indexes": {},
+      "foreignKeys": {},
+      "compositePrimaryKeys": {
+        "candles_pair_ts_pk": {
+          "name": "candles_pair_ts_pk",
+          "columns": [
+            "pair",
+            "ts"
+          ]
+        }
+      },
+      "uniqueConstraints": {},
+      "policies": {},
+      "checkConstraints": {},
+      "isRLSEnabled": false
+    },
+    "public.decision_logs": {
+      "name": "decision_logs",
+      "schema": "",
+      "columns": {
+        "id": {
+          "name": "id",
+          "type": "serial",
+          "primaryKey": true,
+          "notNull": true
+        },
+        "pair": {
+          "name": "pair",
+          "type": "varchar(16)",
+          "primaryKey": false,
+          "notNull": true
+        },
+        "bar_ts": {
+          "name": "bar_ts",
+          "type": "timestamp with time zone",
+          "primaryKey": false,
+          "notNull": true
+        },
+        "signal": {
+          "name": "signal",
+          "type": "text",
+          "primaryKey": false,
+          "notNull": false
+        },
+        "blocked_by": {
+          "name": "blocked_by",
+          "type": "text",
+          "primaryKey": false,
+          "notNull": false
+        },
+        "close": {
+          "name": "close",
+          "type": "double precision",
+          "primaryKey": false,
+          "notNull": true
+        },
+        "atr": {
+          "name": "atr",
+          "type": "double precision",
+          "primaryKey": false,
+          "notNull": false
+        },
+        "adx": {
+          "name": "adx",
+          "type": "double precision",
+          "primaryKey": false,
+          "notNull": false
+        },
+        "donchian_high": {
+          "name": "donchian_high",
+          "type": "double precision",
+          "primaryKey": false,
+          "notNull": false
+        },
+        "trend_ema": {
+          "name": "trend_ema",
+          "type": "double precision",
+          "primaryKey": false,
+          "notNull": false
+        },
+        "price_after_4h": {
+          "name": "price_after_4h",
+          "type": "double precision",
+          "primaryKey": false,
+          "notNull": false
+        },
+        "price_after_24h": {
+          "name": "price_after_24h",
+          "type": "double precision",
+          "primaryKey": false,
+          "notNull": false
+        },
+        "price_after_72h": {
+          "name": "price_after_72h",
+          "type": "double precision",
+          "primaryKey": false,
+          "notNull": false
+        }
+      },
+      "indexes": {
+        "decision_logs_pair_bar_ts": {
+          "name": "decision_logs_pair_bar_ts",
+          "columns": [
+            {
+              "expression": "pair",
+              "isExpression": false,
+              "asc": true,
+              "nulls": "last"
+            },
+            {
+              "expression": "bar_ts",
+              "isExpression": false,
+              "asc": true,
+              "nulls": "last"
+            }
+          ],
+          "isUnique": true,
+          "concurrently": false,
+          "method": "btree",
+          "with": {}
+        }
+      },
+      "foreignKeys": {},
+      "compositePrimaryKeys": {},
+      "uniqueConstraints": {},
+      "policies": {},
+      "checkConstraints": {},
+      "isRLSEnabled": false
+    },
+    "public.equity_snapshots": {
+      "name": "equity_snapshots",
+      "schema": "",
+      "columns": {
+        "ts": {
+          "name": "ts",
+          "type": "timestamp with time zone",
+          "primaryKey": true,
+          "notNull": true
+        },
+        "equity": {
+          "name": "equity",
+          "type": "double precision",
+          "primaryKey": false,
+          "notNull": true
+        },
+        "cash": {
+          "name": "cash",
+          "type": "double precision",
+          "primaryKey": false,
+          "notNull": true
+        }
+      },
+      "indexes": {},
+      "foreignKeys": {},
+      "compositePrimaryKeys": {},
+      "uniqueConstraints": {},
+      "policies": {},
+      "checkConstraints": {},
+      "isRLSEnabled": false
+    },
+    "public.paper_trades": {
+      "name": "paper_trades",
+      "schema": "",
+      "columns": {
+        "id": {
+          "name": "id",
+          "type": "serial",
+          "primaryKey": true,
+          "notNull": true
+        },
+        "pair": {
+          "name": "pair",
+          "type": "varchar(16)",
+          "primaryKey": false,
+          "notNull": true
+        },
+        "side": {
+          "name": "side",
+          "type": "text",
+          "primaryKey": false,
+          "notNull": true
+        },
+        "entry_ts": {
+          "name": "entry_ts",
+          "type": "timestamp with time zone",
+          "primaryKey": false,
+          "notNull": true
+        },
+        "entry_price": {
+          "name": "entry_price",
+          "type": "double precision",
+          "primaryKey": false,
+          "notNull": true
+        },
+        "exit_ts": {
+          "name": "exit_ts",
+          "type": "timestamp with time zone",
+          "primaryKey": false,
+          "notNull": true
+        },
+        "exit_price": {
+          "name": "exit_price",
+          "type": "double precision",
+          "primaryKey": false,
+          "notNull": true
+        },
+        "qty": {
+          "name": "qty",
+          "type": "double precision",
+          "primaryKey": false,
+          "notNull": true
+        },
+        "pnl": {
+          "name": "pnl",
+          "type": "double precision",
+          "primaryKey": false,
+          "notNull": true
+        },
+        "r": {
+          "name": "r",
+          "type": "double precision",
+          "primaryKey": false,
+          "notNull": true
+        },
+        "exit_reason": {
+          "name": "exit_reason",
+          "type": "text",
+          "primaryKey": false,
+          "notNull": true
+        }
+      },
+      "indexes": {},
+      "foreignKeys": {},
+      "compositePrimaryKeys": {},
+      "uniqueConstraints": {},
+      "policies": {},
+      "checkConstraints": {},
+      "isRLSEnabled": false
+    },
+    "public.positions": {
+      "name": "positions",
+      "schema": "",
+      "columns": {
+        "pair": {
+          "name": "pair",
+          "type": "varchar(16)",
+          "primaryKey": true,
+          "notNull": true
+        },
+        "side": {
+          "name": "side",
+          "type": "text",
+          "primaryKey": false,
+          "notNull": true
+        },
+        "qty": {
+          "name": "qty",
+          "type": "double precision",
+          "primaryKey": false,
+          "notNull": true
+        },
+        "entry_ts": {
+          "name": "entry_ts",
+          "type": "timestamp with time zone",
+          "primaryKey": false,
+          "notNull": true
+        },
+        "entry_price": {
+          "name": "entry_price",
+          "type": "double precision",
+          "primaryKey": false,
+          "notNull": true
+        },
+        "entry_cost": {
+          "name": "entry_cost",
+          "type": "double precision",
+          "primaryKey": false,
+          "notNull": true
+        },
+        "initial_stop": {
+          "name": "initial_stop",
+          "type": "double precision",
+          "primaryKey": false,
+          "notNull": true
+        },
+        "stop": {
+          "name": "stop",
+          "type": "double precision",
+          "primaryKey": false,
+          "notNull": true
+        },
+        "trail_extreme": {
+          "name": "trail_extreme",
+          "type": "double precision",
+          "primaryKey": false,
+          "notNull": true
+        },
+        "risk_amount": {
+          "name": "risk_amount",
+          "type": "double precision",
+          "primaryKey": false,
+          "notNull": true
+        }
+      },
+      "indexes": {},
+      "foreignKeys": {},
+      "compositePrimaryKeys": {},
+      "uniqueConstraints": {},
+      "policies": {},
+      "checkConstraints": {},
+      "isRLSEnabled": false
+    }
+  },
+  "enums": {},
+  "schemas": {},
+  "sequences": {},
+  "roles": {},
+  "policies": {},
+  "views": {},
+  "_meta": {
+    "columns": {},
+    "schemas": {},
+    "tables": {}
+  }
+}
--- a/drizzle/meta/_journal.json
+++ b/drizzle/meta/_journal.json
@@ -8,6 +8,13 @@
      "when": 1781038570957,
      "tag": "0000_nifty_brood",
      "breakpoints": true
+    },
+    {
+      "idx": 1,
+      "version": "7",
+      "when": 1781071452889,
+      "tag": "0001_certain_omega_red",
+      "breakpoints": true
    }
  ]
 }
--- a/package.json
+++ b/package.json
@@ -3,9 +3,11 @@
  "private": true,
  "type": "module",
  "scripts": {
+    "start": "bun run db:migrate && bun run src/server/index.ts",
    "test": "bun test",
    "backfill": "bun run src/server/scripts/backfill.ts",
    "walkforward": "bun run src/server/scripts/walkforward.ts",
+    "rotation": "bun run src/server/scripts/rotation-walkforward.ts",
    "db:generate": "bunx drizzle-kit generate",
    "db:migrate": "bun run src/server/db/migrate.ts"
  },
--- a/public/index.html
+++ b/public/index.html
@@ -0,0 +1,166 @@
+<!doctype html>
+<html lang="de">
+<head>
+<meta charset="utf-8">
+<meta name="viewport" content="width=device-width, initial-scale=1">
+<title>trade-kuns — Paper Trading</title>
+<style>
+  :root {
+    --bg: #0d1117; --panel: #161b22; --border: #21262d; --text: #e6edf3;
+    --muted: #8b949e; --green: #3fb950; --red: #f85149; --accent: #58a6ff;
+    --mono: ui-monospace, 'JetBrains Mono', 'Fira Code', monospace;
+  }
+  * { box-sizing: border-box; margin: 0; }
+  body { background: var(--bg); color: var(--text); font: 14px/1.5 system-ui, sans-serif; padding: 24px; max-width: 1200px; margin: 0 auto; }
+  header { display: flex; align-items: baseline; gap: 12px; margin-bottom: 20px; flex-wrap: wrap; }
+  h1 { font-size: 20px; font-weight: 600; }
+  h1 small { color: var(--muted); font-weight: 400; font-size: 13px; }
+  #status { margin-left: auto; font-size: 12px; color: var(--muted); }
+  #status .dot { display: inline-block; width: 8px; height: 8px; border-radius: 50%; margin-right: 5px; }
+  .kpis { display: grid; grid-template-columns: repeat(auto-fit, minmax(140px, 1fr)); gap: 12px; margin-bottom: 20px; }
+  .kpi { background: var(--panel); border: 1px solid var(--border); border-radius: 8px; padding: 12px 14px; }
+  .kpi .label { font-size: 11px; text-transform: uppercase; letter-spacing: .05em; color: var(--muted); }
+  .kpi .value { font-size: 20px; font-weight: 600; font-family: var(--mono); margin-top: 2px; }
+  .panel { background: var(--panel); border: 1px solid var(--border); border-radius: 8px; padding: 16px; margin-bottom: 20px; }
+  .panel h2 { font-size: 14px; font-weight: 600; margin-bottom: 10px; color: var(--muted); }
+  canvas { width: 100%; height: 220px; display: block; }
+  table { width: 100%; border-collapse: collapse; font-family: var(--mono); font-size: 12.5px; }
+  th { text-align: right; color: var(--muted); font-weight: 500; padding: 6px 8px; border-bottom: 1px solid var(--border); }
+  td { text-align: right; padding: 6px 8px; border-bottom: 1px solid var(--border); white-space: nowrap; }
+  th:first-child, td:first-child { text-align: left; }
+  tr:last-child td { border-bottom: none; }
+  .pos { color: var(--green); } .neg { color: var(--red); }
+  .empty { color: var(--muted); padding: 12px 8px; font-style: italic; }
+  .tag { display: inline-block; padding: 1px 7px; border-radius: 10px; font-size: 11px; background: var(--border); color: var(--muted); }
+  .tag.long { background: rgba(63,185,80,.15); color: var(--green); }
+  @media (max-width: 700px) { body { padding: 12px; } td, th { padding: 5px 4px; } }
+</style>
+</head>
+<body>
+<header>
+  <h1>trade-kuns <small>Donchian-Trendfolge · Paper · BTC ETH SOL XRP</small></h1>
+  <div id="status"><span class="dot" style="background:var(--muted)"></span>lade…</div>
+</header>
+
+<div class="kpis" id="kpis"></div>
+
+<div class="panel"><h2>Equity-Kurve (4h)</h2><canvas id="chart" height="220"></canvas></div>
+
+<div class="panel"><h2>Offene Positionen</h2><div id="positions"></div></div>
+
+<div class="panel"><h2>Abgeschlossene Trades</h2><div id="trades"></div></div>
+
+<div class="panel"><h2>Letzte Entscheidungen (4h-Bars)</h2><div id="decisions"></div></div>
+
+<script>
+const fmt = (n, d = 2) => n == null || Number.isNaN(n) ? '–' : n.toLocaleString('de-DE', { minimumFractionDigits: d, maximumFractionDigits: d });
+const fmtTs = (ts) => ts == null ? '–' : new Date(ts).toLocaleString('de-DE', { day: '2-digit', month: '2-digit', hour: '2-digit', minute: '2-digit' });
+const cls = (n) => n > 0 ? 'pos' : n < 0 ? 'neg' : '';
+const sign = (n, d = 2) => (n > 0 ? '+' : '') + fmt(n, d);
+
+function kpi(label, value, klass = '') {
+  return `<div class="kpi"><div class="label">${label}</div><div class="value ${klass}">${value}</div></div>`;
+}
+
+function table(headers, rows, emptyMsg) {
+  if (!rows.length) return `<div class="empty">${emptyMsg}</div>`;
+  return `<table><thead><tr>${headers.map(h => `<th>${h}</th>`).join('')}</tr></thead><tbody>${rows.join('')}</tbody></table>`;
+}
+
+function drawChart(curve, startCapital) {
+  const cv = document.getElementById('chart');
+  const dpr = window.devicePixelRatio || 1;
+  const w = cv.clientWidth, h = 220;
+  cv.width = w * dpr; cv.height = h * dpr;
+  const ctx = cv.getContext('2d');
+  ctx.scale(dpr, dpr);
+  ctx.clearRect(0, 0, w, h);
+  if (curve.length < 2) {
+    ctx.fillStyle = '#8b949e'; ctx.font = '13px system-ui';
+    ctx.fillText('Noch keine Equity-Historie — der erste 4h-Bucket kommt.', 10, h / 2);
+    return;
+  }
+  const pad = { l: 54, r: 8, t: 10, b: 22 };
+  const xs = curve.map(p => p.ts), ys = curve.map(p => p.equity);
+  const xmin = xs[0], xmax = xs[xs.length - 1];
+  let ymin = Math.min(...ys, startCapital), ymax = Math.max(...ys, startCapital);
+  const yspan = (ymax - ymin) || 1; ymin -= yspan * .08; ymax += yspan * .08;
+  const X = t => pad.l + (t - xmin) / (xmax - xmin) * (w - pad.l - pad.r);
+  const Y = v => h - pad.b - (v - ymin) / (ymax - ymin) * (h - pad.t - pad.b);
+  ctx.strokeStyle = '#21262d'; ctx.fillStyle = '#8b949e'; ctx.font = '11px system-ui';
+  for (let i = 0; i <= 4; i++) {
+    const v = ymin + (ymax - ymin) * i / 4, y = Y(v);
+    ctx.beginPath(); ctx.moveTo(pad.l, y); ctx.lineTo(w - pad.r, y); ctx.stroke();
+    ctx.fillText(fmt(v, 0), 6, y + 4);
+  }
+  ctx.strokeStyle = '#8b949e'; ctx.setLineDash([4, 4]);
+  ctx.beginPath(); ctx.moveTo(pad.l, Y(startCapital)); ctx.lineTo(w - pad.r, Y(startCapital)); ctx.stroke();
+  ctx.setLineDash([]);
+  const last = ys[ys.length - 1];
+  ctx.strokeStyle = last >= startCapital ? '#3fb950' : '#f85149'; ctx.lineWidth = 1.8;
+  ctx.beginPath();
+  curve.forEach((p, i) => i ? ctx.lineTo(X(p.ts), Y(p.equity)) : ctx.moveTo(X(p.ts), Y(p.equity)));
+  ctx.stroke();
+  ctx.fillStyle = '#8b949e';
+  ctx.fillText(fmtTs(xmin), pad.l, h - 6);
+  const endLabel = fmtTs(xmax);
+  ctx.fillText(endLabel, w - pad.r - ctx.measureText(endLabel).width, h - 6);
+}
+
+async function refresh() {
+  try {
+    const [pf, stats, trades, decisions] = await Promise.all([
+      fetch('/api/portfolio').then(r => r.json()),
+      fetch('/api/stats').then(r => r.json()),
+      fetch('/api/trades?limit=30').then(r => r.json()),
+      fetch('/api/decisions?limit=12').then(r => r.json()),
+    ]);
+
+    const pnl = pf.equity - pf.startCapital;
+    const pnlPct = pf.startCapital ? pnl / pf.startCapital * 100 : 0;
+    document.getElementById('kpis').innerHTML =
+      kpi('Equity', fmt(pf.equity) + ' $') +
+      kpi('PnL gesamt', `${sign(pnl)} $ (${sign(pnlPct, 1)} %)`, cls(pnl)) +
+      kpi('Cash', fmt(pf.cash) + ' $') +
+      kpi('Trades', stats.trades) +
+      kpi('Profit Factor', stats.trades ? fmt(stats.profitFactor) : '–') +
+      kpi('Win Rate', stats.trades ? fmt(stats.winRate * 100, 0) + ' %' : '–') +
+      kpi('Max DD', fmt(stats.maxDrawdownPct * 100, 1) + ' %') +
+      kpi('BTC Buy&Hold', stats.btcBuyHoldPct == null ? '–' : sign(stats.btcBuyHoldPct, 1) + ' %', cls(stats.btcBuyHoldPct));
+
+    drawChart(stats.equityCurve || [], stats.startCapital);
+
+    document.getElementById('positions').innerHTML = table(
+      ['Pair', 'Entry', 'Entry-Preis', 'Letzter', 'Stop', 'Wert $', 'PnL $'],
+      pf.positions.map(p => `<tr><td><span class="tag long">${p.pair}</span></td><td>${fmtTs(p.entryTs)}</td><td>${fmt(p.entryPrice, 4)}</td><td>${fmt(p.lastPrice, 4)}</td><td>${fmt(p.stop, 4)}</td><td>${fmt(p.value)}</td><td class="${cls(p.unrealizedPnl)}">${sign(p.unrealizedPnl)}</td></tr>`),
+      'Keine offene Position — warten auf Donchian-Breakout. Das ist Normalbetrieb.');
+
+    document.getElementById('trades').innerHTML = table(
+      ['Pair', 'Entry', 'Exit', 'Entry-Preis', 'Exit-Preis', 'PnL $', 'R', 'Grund'],
+      trades.map(t => `<tr><td><span class="tag long">${t.pair}</span></td><td>${fmtTs(new Date(t.entryTs).getTime())}</td><td>${fmtTs(new Date(t.exitTs).getTime())}</td><td>${fmt(t.entryPrice, 4)}</td><td>${fmt(t.exitPrice, 4)}</td><td class="${cls(t.pnl)}">${sign(t.pnl)}</td><td class="${cls(t.r)}">${sign(t.r, 2)}</td><td>${t.exitReason}</td></tr>`),
+      'Noch keine abgeschlossenen Trades.');
+
+    document.getElementById('decisions').innerHTML = table(
+      ['Pair', '4h-Bar', 'Close', 'Donchian-High', 'EMA-200', 'ADX', 'Ergebnis'],
+      decisions.map(d => {
+        const res = d.signal === 'long' && !d.blockedBy ? '<span class="tag long">ENTRY</span>'
+          : d.signal === 'long' ? `<span class="tag">long, ${d.blockedBy}</span>`
+          : `<span class="tag">${d.blockedBy ?? '–'}</span>`;
+        return `<tr><td>${d.pair}</td><td>${fmtTs(new Date(d.barTs).getTime())}</td><td>${fmt(d.close, 4)}</td><td>${fmt(d.donchianHigh, 4)}</td><td>${fmt(d.trendEma, 4)}</td><td>${fmt(d.adx, 1)}</td><td style="text-align:left">${res}</td></tr>`;
+      }),
+      'Noch keine Entscheidungen — die erste 4h-Bar schließt demnächst.');
+
+    const eng = pf.engine || {};
+    const ok = eng.lastCycleOk !== false;
+    document.getElementById('status').innerHTML =
+      `<span class="dot" style="background:${ok ? 'var(--green)' : 'var(--red)'}"></span>` +
+      (eng.lastCycleAt ? `Zyklus ${fmtTs(eng.lastCycleAt)}${ok ? '' : ' — FEHLER: ' + (eng.lastError ?? '?')}` : 'erster Zyklus läuft…');
+  } catch (e) {
+    document.getElementById('status').innerHTML = `<span class="dot" style="background:var(--red)"></span>API nicht erreichbar`;
+  }
+}
+refresh();
+setInterval(refresh, 30000);
+</script>
+</body>
+</html>
--- a/src/server/api/server.ts
+++ b/src/server/api/server.ts
@@ -0,0 +1,163 @@
+import { and, desc, eq, gte } from 'drizzle-orm';
+import { db } from '../db/client';
+import { botState, candles, decisionLogs, equitySnapshots, paperTrades, positions } from '../db/schema';
+import { aggregate4h } from '../market/aggregate';
+import { computeMetrics, type EquityPoint } from '../backtest/metrics';
+import type { ClosedTrade } from '../engine/portfolio';
+import type { Pair } from '../types';
+import { PAIRS } from '../types';
+import type { LiveEngine } from '../live/engine';
+
+function json(data: unknown, status = 200): Response {
+  return new Response(JSON.stringify(data), { status, headers: { 'content-type': 'application/json' } });
+}
+
+function clampLimit(url: URL, def: number, max: number): number {
+  const n = Number(url.searchParams.get('limit') ?? def);
+  return Number.isFinite(n) ? Math.min(Math.max(1, Math.floor(n)), max) : def;
+}
+
+async function latestCloses(): Promise<Map<Pair, number>> {
+  const map = new Map<Pair, number>();
+  for (const pair of PAIRS) {
+    const [row] = await db
+      .select({ close: candles.close })
+      .from(candles)
+      .where(eq(candles.pair, pair))
+      .orderBy(desc(candles.ts))
+      .limit(1);
+    if (row) map.set(pair, row.close);
+  }
+  return map;
+}
+
+async function getPortfolio(engine: LiveEngine) {
+  const [state] = await db.select().from(botState).where(eq(botState.id, 1));
+  const posRows = await db.select().from(positions);
+  const closes = await latestCloses();
+  let equity = state?.cash ?? 0;
+  const pos = posRows.map((p) => {
+    const last = closes.get(p.pair as Pair) ?? p.entryPrice;
+    const value = p.qty * last;
+    equity += value;
+    return {
+      pair: p.pair,
+      side: p.side,
+      qty: p.qty,
+      entryTs: p.entryTs.getTime(),
+      entryPrice: p.entryPrice,
+      stop: p.stop,
+      initialStop: p.initialStop,
+      lastPrice: last,
+      value,
+      unrealizedPnl: value - p.entryCost,
+      riskAmount: p.riskAmount,
+    };
+  });
+  return {
+    equity,
+    cash: state?.cash ?? 0,
+    startCapital: state?.startCapital ?? 0,
+    cursorTs: state?.cursorTs.getTime() ?? null,
+    positions: pos,
+    engine: engine.status,
+  };
+}
+
+async function getStats() {
+  const [state] = await db.select().from(botState).where(eq(botState.id, 1));
+  const tradeRows = await db.select().from(paperTrades);
+  const trades: ClosedTrade[] = tradeRows.map((t) => ({
+    pair: t.pair as Pair,
+    entryTs: t.entryTs.getTime(),
+    entryPrice: t.entryPrice,
+    exitTs: t.exitTs.getTime(),
+    exitPrice: t.exitPrice,
+    qty: t.qty,
+    pnl: t.pnl,
+    r: t.r,
+    exitReason: t.exitReason as ClosedTrade['exitReason'],
+    side: t.side as 'long' | 'short',
+  }));
+  const curveRows = await db.select().from(equitySnapshots).orderBy(equitySnapshots.ts);
+  const curve: EquityPoint[] = curveRows.map((r) => ({ ts: r.ts.getTime(), equity: r.equity }));
+  const start = state?.startCapital ?? 1000;
+  const metrics = computeMetrics(trades, curve, start);
+
+  // Buy&Hold-BTC über denselben Zeitraum als Benchmark
+  let btcBuyHoldPct: number | null = null;
+  if (curve.length > 1) {
+    const [first] = await db
+      .select({ close: candles.close })
+      .from(candles)
+      .where(and(eq(candles.pair, 'BTC_USDT'), gte(candles.ts, new Date(curve[0].ts))))
+      .orderBy(candles.ts)
+      .limit(1);
+    const [last] = await db
+      .select({ close: candles.close })
+      .from(candles)
+      .where(eq(candles.pair, 'BTC_USDT'))
+      .orderBy(desc(candles.ts))
+      .limit(1);
+    if (first && last) btcBuyHoldPct = (last.close / first.close - 1) * 100;
+  }
+  return { ...metrics, startCapital: start, equityCurve: curve, btcBuyHoldPct };
+}
+
+export function createServer(engine: LiveEngine, port: number) {
+  const indexHtml = Bun.file(new URL('../../../public/index.html', import.meta.url));
+
+  return Bun.serve({
+    port,
+    hostname: '0.0.0.0',
+    async fetch(req) {
+      const url = new URL(req.url);
+      try {
+        switch (url.pathname) {
+          case '/':
+            return new Response(indexHtml, { headers: { 'content-type': 'text/html; charset=utf-8' } });
+          case '/health': {
+            const ok = engine.status.lastCycleOk;
+            return json({ ok, lastCycleAt: engine.status.lastCycleAt, error: engine.status.lastError }, ok ? 200 : 503);
+          }
+          case '/api/portfolio':
+            return json(await getPortfolio(engine));
+          case '/api/trades': {
+            const limit = clampLimit(url, 100, 500);
+            const rows = await db.select().from(paperTrades).orderBy(desc(paperTrades.exitTs)).limit(limit);
+            return json(rows);
+          }
+          case '/api/decisions': {
+            const limit = clampLimit(url, 50, 500);
+            const pair = url.searchParams.get('pair');
+            const where = pair ? eq(decisionLogs.pair, pair) : undefined;
+            const rows = await db.select().from(decisionLogs).where(where).orderBy(desc(decisionLogs.barTs)).limit(limit);
+            return json(rows);
+          }
+          case '/api/stats':
+            return json(await getStats());
+          case '/api/candles': {
+            const pair = url.searchParams.get('pair') ?? 'BTC_USDT';
+            if (!(PAIRS as readonly string[]).includes(pair)) return json({ error: 'unbekanntes Pair' }, 400);
+            const tf = url.searchParams.get('tf') ?? '4h';
+            const limit = clampLimit(url, 500, 2000);
+            const raw = tf === '4h' ? limit * 16 : limit;
+            const rows = await db
+              .select()
+              .from(candles)
+              .where(eq(candles.pair, pair))
+              .orderBy(desc(candles.ts))
+              .limit(raw);
+            const c15 = rows.reverse().map((r) => ({ ts: r.ts.getTime(), open: r.open, high: r.high, low: r.low, close: r.close, volume: r.volume }));
+            return json(tf === '4h' ? aggregate4h(c15).slice(-limit) : c15);
+          }
+          default:
+            return json({ error: 'not found' }, 404);
+        }
+      } catch (err) {
+        console.error('API-Fehler:', url.pathname, err);
+        return json({ error: 'internal error' }, 500);
+      }
+    },
+  });
+}
--- a/src/server/backtest/rotation.test.ts
+++ b/src/server/backtest/rotation.test.ts
@@ -0,0 +1,241 @@
+import { expect, test } from 'bun:test';
+import type { Candle, Pair } from '../types';
+import { runRotationBacktest, type RotationConfig } from './rotation';
+import { DEFAULT_EXEC } from '../engine/portfolio';
+import { H4 } from '../market/aggregate';
+
+const M15 = 15 * 60 * 1000;
+const WEEK = 7 * 24 * 3600 * 1000;
+
+/**
+ * Synthetische 15m-Serie für einen 4h-Bucket.
+ * Alle 16 Candles tragen denselben OHLC; Close ist konstant = cl.
+ * ts = Bucket-Start (muss ein exakter H4-Vielfaches sein).
+ */
+function flat4h(bucketStart: number, cl: number): Candle[] {
+  const out: Candle[] = [];
+  for (let i = 0; i < 16; i++) {
+    out.push({ ts: bucketStart + i * M15, open: cl, high: cl, low: cl, close: cl, volume: 1 });
+  }
+  return out;
+}
+
+/**
+ * Baut eine 15m-Candleserie für ein Pair aus einer Liste von (bucketStart, close)-Paaren.
+ * Reihenfolge muss aufsteigend nach bucketStart sein.
+ */
+function buildSeries(bars: { ts: number; cl: number }[]): Candle[] {
+  return bars.flatMap(({ ts, cl }) => flat4h(ts, cl));
+}
+
+/**
+ * Basis-Konfiguration: lookback = 3 Bars (statt 180), damit Tests mit wenigen Bars funktionieren.
+ * tradeFrom = 0, tradeTo = sehr groß.
+ *
+ * Hinweis: Mit lookbackBars=3 gilt momentum = close[i] / close[i-3] − 1.
+ */
+const BASE_CFG: RotationConfig = {
+  startCapital: 1000,
+  exec: DEFAULT_EXEC,
+  lookbackBars: 3,
+  tradeFrom: 0,
+  tradeTo: Number.MAX_SAFE_INTEGER,
+};
+
+// --------------------------------------------------------------------------
+// Test (a): Pair A stark steigend, Pair B flach/fallend
+//           → System hält A; keine B-Trades
+// --------------------------------------------------------------------------
+test('(a) starkes A vs. flaches B → hält A, keine B-Trades', () => {
+  // 7 Bars Warmup (lookback=3 → ab Bar 3 kann Momentum berechnet werden)
+  // Bar 0..5 auf einem beliebigen H4-Raster (wir beginnen bei Ts=0)
+  // Rebalance-Trigger: erster Bar im Window = Bar 0 (firstBarInWindow).
+  // Momentum auf Bar 3: A[3]/A[0] - 1 = 150/100-1 = 0.5 > 0 → A gewinnt.
+  //
+  // A steigt: 100, 110, 130, 150, 200, 250, 300
+  // B flach:  100, 100, 100, 100, 100, 100, 100
+  //
+  // Woche 1-Trigger: erster Bar (Bar 0, ts=H4, weekBucket=0 wenn H4<WEEK).
+  // Bar 0 liegt bei ts=H4 (Close-ts), kein Momentum da idx=0 < lookbackBars=3.
+  // → Cash.
+  //
+  // Nächster Trigger: erster Bar nächster Woche.
+  // WEEK = 7×24×3600×1000 = 604800000 ms; H4 = 14400000 ms → 42 Bars/Woche.
+  // Wir bauen kleine Zeitreihe: Bars an Positionen 0,1,2,... × H4.
+  // Bar-Close-Ts von Bar i = (i+1)*H4 (da bucketStart=i*H4, Close-ts=bucketStart+H4).
+  // weekBucket(barCloseTs) = Math.floor(barCloseTs / WEEK).
+  // weekBucket ändert sich wenn barCloseTs überquert ein WEEK-Vielfaches.
+  // Für einfache Tests bauen wir Bars in 2 Wochen-Epochen direkt auf.
+
+  // Epoche 0: Bars 0..41 (weekBucket=0), Epoche 1: Bars 42..83.
+  // Warmup: Bars 0..2 (idx 0,1,2 sind < lookbackBars=3).
+  // Erster Trigger: Bar 0 (firstBarInWindow) → idx=0 < 3 → Cash.
+  // Woche-1-Trigger: Bar 42 (erster Bar mit weekBucket=1) → idx=42 >= 3.
+  //   Momentum A: close[42]/close[39] - 1; wir geben A monoton steigende Preise.
+
+  const numBars = 50; // 50 Bars reichen für 2 Wochen (42 Bars/Woche)
+  const barsA: { ts: number; cl: number }[] = [];
+  const barsB: { ts: number; cl: number }[] = [];
+  for (let i = 0; i < numBars; i++) {
+    const ts = i * H4;
+    barsA.push({ ts, cl: 100 + i * 5 });  // A: 100, 105, 110, … (stark steigend)
+    barsB.push({ ts, cl: 100 });           // B: konstant flach
+  }
+
+  const data = new Map<Pair, Candle[]>([
+    ['BTC_USDT', buildSeries(barsA)],
+    ['ETH_USDT', buildSeries(barsB)],
+  ]);
+
+  const result = runRotationBacktest(data, BASE_CFG);
+
+  // Muss mindestens 1 Trade haben (A wird geöffnet und am Ende geschlossen)
+  expect(result.trades.length).toBeGreaterThanOrEqual(1);
+
+  // Alle Trades müssen BTC_USDT (A) sein — kein Trade auf ETH_USDT (B)
+  const btcTrades = result.trades.filter((t) => t.pair === 'BTC_USDT');
+  const ethTrades = result.trades.filter((t) => t.pair === 'ETH_USDT');
+  expect(btcTrades.length).toBeGreaterThanOrEqual(1);
+  expect(ethTrades.length).toBe(0);
+
+  // Alle Trades sind Long
+  for (const t of result.trades) {
+    expect(t.side).toBe('long');
+  }
+
+  // A steigt → PnL positiv (abzüglich Gebühren)
+  const totalPnl = result.trades.reduce((s, t) => s + t.pnl, 0);
+  expect(totalPnl).toBeGreaterThan(0);
+});
+
+// --------------------------------------------------------------------------
+// Test (b): Leader-Flip: A steigt zunächst, B beschleunigt → Rotation A→B
+// --------------------------------------------------------------------------
+test('(b) Leader-Flip: Rotation von A nach B erkennbar', () => {
+  // Strategie:
+  //   Phase 1 (Bars 0..44, Woche 0): A steigt, B flach → A ist Leader.
+  //   Phase 2 (Bars 45..86, Woche 1): A stagniert/fällt, B steigt stark → B wird Leader.
+  //
+  // lookbackBars=3: Momentum = close[i]/close[i-3] - 1.
+  // Trigger bei Bar 42 (weekBucket=1): prüfen close[42]/close[39] für A und B.
+  //
+  // Damit Bar 42 (weekBucket=1) B besser macht als A:
+  //   A-Preis ab Bar 39: konstant 200 (kein Wachstum → mom_A = 200/200-1 = 0)
+  //   B-Preis ab Bar 39: 100, 110, 120, 130 → mom_B = 130/100-1 = 0.3 > 0
+  //
+  // Phase 1 (Bars 0..41, weekBucket=0):
+  //   A steigt: 100+i*3; B: 100 konstant
+  //   Trigger bei Bar 0 (firstBar): idx=0 < lookback=3 → Cash (ok, kein Trade)
+  //
+  // Woche-1-Trigger bei Bar 42 (erster Bar mit barCloseTs >= 1*WEEK):
+  //   barCloseTs von Bar 42 = 43*H4 = 620800000 ms > WEEK=604800000 → weekBucket=1 ✓
+  //   mom_A = A[42]/A[39]-1 = A[42]/A[39]-1
+  //   A[39]=100+39*3=217, A[40]=220, A[41]=223, A[42]=226 → mom_A=226/217-1≈0.041
+  //   B[39]=100, B[40]=110, B[41]=120, B[42]=130 → mom_B=130/100-1=0.3
+  //   → B gewinnt → Rotation A→B falls A zuvor gehalten wurde
+  //
+  // Damit A vorher gehalten wird, brauchen wir einen früheren Trigger mit A-Gewinn.
+  // Erster Bar in Window (Bar 0): idx=0 < lookback → kein Momentum → Cash.
+  // Das bedeutet beim ersten Trigger kein Trade. A wird erst beim nächsten
+  // Wochen-Trigger eröffnet (Bar 42) — aber dann gewinnt B schon.
+  //
+  // → Wir brauchen mindestens 3 Wochen-Epochen:
+  //   Epoche 0 (Bars 0..41): erster Trigger → idx < 3 → Cash
+  //   Epoche 1 (Bars 42..83): 2. Trigger (weekBucket=1) → A hat mom>0, B=0 → A eröffnet
+  //   Epoche 2 (Bars 84..125): 3. Trigger (weekBucket=2) → B hat mom>A → Rotation A→B
+  //
+  // Preisdesign:
+  //   Epoche 0 (Bars 0..41):   A: 100+i*3, B: 100
+  //   Epoche 1 (Bars 42..83):  A: 100+i*3 (steigt weiter), B: 100 (konstant)
+  //     → Trigger bei Bar 42: mom_A = A[42]/A[39]-1 > 0, mom_B = 0 → A gewinnt
+  //   Epoche 2 (Bars 84..125): A: konstant 352 (=100+84*3), B: 100+j*10 (schnell steigend)
+  //     → Trigger bei Bar 84 (weekBucket=2): mom_A = 352/352-1=0, mom_B = B[84]/B[81]-1
+  //     B[81]=810, B[82]=820, B[83]=830, B[84]=840 → mom_B = 840/810-1 ≈ 0.037 > 0 → B gewinnt
+
+  // ABER: B muss bereits ab früh steigen damit die Lookback-Werte stimmen.
+  // Einfacher Ansatz: B steigt erst ab Bar 80, A stagniert ab Bar 80.
+
+  const numBars = 130;
+  const barsA: { ts: number; cl: number }[] = [];
+  const barsB: { ts: number; cl: number }[] = [];
+  for (let i = 0; i < numBars; i++) {
+    const ts = i * H4;
+    if (i < 80) {
+      barsA.push({ ts, cl: 100 + i * 3 });  // A steigt
+      barsB.push({ ts, cl: 100 });           // B flach
+    } else {
+      barsA.push({ ts, cl: 100 + 80 * 3 });  // A stagniert bei 340
+      barsB.push({ ts, cl: 100 + (i - 80) * 10 }); // B steigt stark
+    }
+  }
+  // Bar 84 (weekBucket=2, Trigger): mom_A = 340/340-1=0; mom_B = B[84]/B[81]-1
+  // B[81]=10, B[82]=20, B[83]=30, B[84]=40 → mom_B=40/10-1=3 > 0 → B gewinnt
+
+  const data = new Map<Pair, Candle[]>([
+    ['BTC_USDT', buildSeries(barsA)],
+    ['ETH_USDT', buildSeries(barsB)],
+  ]);
+
+  const result = runRotationBacktest(data, BASE_CFG);
+
+  // Muss BTC-Trade UND ETH-Trade geben
+  const btcTrades = result.trades.filter((t) => t.pair === 'BTC_USDT');
+  const ethTrades = result.trades.filter((t) => t.pair === 'ETH_USDT');
+  expect(btcTrades.length).toBeGreaterThanOrEqual(1);
+  expect(ethTrades.length).toBeGreaterThanOrEqual(1);
+
+  // BTC muss vor ETH geschlossen worden sein (zeitliche Abfolge)
+  // Letzter BTC-Exit vor erstem ETH-Entry
+  const lastBtcExit = Math.max(...btcTrades.map((t) => t.exitTs));
+  const firstEthEntry = Math.min(...ethTrades.map((t) => t.entryTs));
+  expect(lastBtcExit).toBeLessThanOrEqual(firstEthEntry);
+
+  // BTC-Exit via 'rotation' (nicht end_of_data)
+  const btcRotation = btcTrades.some((t) => t.exitReason === 'rotation');
+  expect(btcRotation).toBe(true);
+});
+
+// --------------------------------------------------------------------------
+// Test (c): Alle Pairs mit negativem Momentum → Cash, keine Trades
+// --------------------------------------------------------------------------
+test('(c) alle Pairs fallend → kein Trade (Cash)', () => {
+  // Alle Pairs fallen monoton: Momentum < 0 bei jedem Trigger.
+  // lookbackBars=3: close[i]/close[i-3]-1 < 0 → kein Leader → Cash.
+  const numBars = 90;
+  const bars: { ts: number; cl: number }[] = [];
+  for (let i = 0; i < numBars; i++) {
+    bars.push({ ts: i * H4, cl: 200 - i * 2 }); // fallend: 200, 198, 196, …
+  }
+
+  const data = new Map<Pair, Candle[]>([
+    ['BTC_USDT', buildSeries(bars)],
+    ['ETH_USDT', buildSeries(bars.map((b) => ({ ts: b.ts, cl: b.cl - 1 })))],
+    ['SOL_USDT', buildSeries(bars.map((b) => ({ ts: b.ts, cl: b.cl - 2 })))],
+    ['XRP_USDT', buildSeries(bars.map((b) => ({ ts: b.ts, cl: b.cl - 3 })))],
+  ]);
+
+  const result = runRotationBacktest(data, BASE_CFG);
+  expect(result.trades).toHaveLength(0);
+  // Equity = startCapital (keine Trades, nur Cash)
+  expect(result.finalEquity).toBeCloseTo(1000, 1);
+});
+
+// --------------------------------------------------------------------------
+// Test (d): Determinismus — identischer Input → identisches JSON
+// --------------------------------------------------------------------------
+test('(d) Determinismus: identischer Input → identisches JSON-Ergebnis', () => {
+  const numBars = 60;
+  const barsA = Array.from({ length: numBars }, (_, i) => ({ ts: i * H4, cl: 100 + i * 2 }));
+  const barsB = Array.from({ length: numBars }, (_, i) => ({ ts: i * H4, cl: 100 }));
+
+  const makeData = (): Map<Pair, Candle[]> =>
+    new Map<Pair, Candle[]>([
+      ['BTC_USDT', buildSeries(barsA)],
+      ['ETH_USDT', buildSeries(barsB)],
+    ]);
+
+  const cfg: RotationConfig = { ...BASE_CFG };
+  const r1 = runRotationBacktest(makeData(), cfg);
+  const r2 = runRotationBacktest(makeData(), cfg);
+  expect(JSON.stringify(r1)).toBe(JSON.stringify(r2));
+});
--- a/src/server/backtest/rotation.ts
+++ b/src/server/backtest/rotation.ts
@@ -0,0 +1,172 @@
+import type { Candle, Pair } from '../types';
+import { PAIRS } from '../types';
+import { aggregate4h, H4 } from '../market/aggregate';
+import { Portfolio, type ExecConfig } from '../engine/portfolio';
+import { computeMetrics, type EquityPoint } from './metrics';
+import type { BacktestResult } from './runner';
+
+export interface RotationConfig {
+  startCapital: number;
+  exec: ExecConfig;
+  /** Anzahl abgeschlossener 4h-Bars für die Momentum-Berechnung. 180 = 30 Tage × 6 Bars/Tag. */
+  lookbackBars: number;
+  tradeFrom: number; // ms inklusiv — Rotations-Entscheide erst ab hier
+  tradeTo: number;   // ms exklusiv — danach Zwangsglattstellung
+}
+
+const WEEK = 7 * 24 * 3600 * 1000;
+
+/**
+ * Momentum-Rotation-Backtest: Dual Momentum, wöchentliche Rotation, Long-Only.
+ *
+ * Entscheidungslogik:
+ *   - Rebalance beim ersten abgeschlossenen 4h-Bar jeder Epochen-Woche ODER
+ *     beim allerersten Bar im Handelsfenster.
+ *   - Momentum = close_now / close_180bars_ago − 1 (30-Tage-Lookback auf 4h).
+ *   - Leader = Pair mit höchstem positivem Momentum; sonst Cash.
+ *   - Rotation: schließe aktuellen Leader, öffne neuen Leader am Close dieses Bars.
+ *
+ * Keine Stops, kein TP — Exit nur via Rotation oder end_of_data.
+ */
+export function runRotationBacktest(
+  candles15ByPair: Map<Pair, Candle[]>,
+  cfg: RotationConfig,
+): BacktestResult {
+  const portfolio = new Portfolio(cfg.startCapital, cfg.exec);
+  // lastClose: für Equity-Berechnung und Momentum. Wird pro Bar aktualisiert.
+  const lastClose = new Map<Pair, number>();
+  const equityCurve: EquityPoint[] = [];
+
+  // --- 4h-Aggregation pro Pair ---
+  // c4h[pair][i].ts = Bucket-Start (barCloseTs = ts + H4)
+  const c4hByPair = new Map<Pair, Candle[]>();
+  for (const pair of PAIRS) {
+    const c15 = candles15ByPair.get(pair);
+    if (c15 && c15.length > 0) {
+      c4hByPair.set(pair, aggregate4h(c15));
+    }
+  }
+
+  // --- Unified Timeline: alle abgeschlossenen 4h-Bar-Close-Timestamps ---
+  // Wir iterieren über die Bar-Close-Timestamps (= ts + H4) aller Pairs,
+  // sortiert aufsteigend. Bei gleichem Timestamp: PAIRS-Reihenfolge.
+  // Pro Timestamp sammeln wir {pair → {close, index}} für diesen Bar.
+  const allBarCloseTs = new Set<number>();
+  for (const [, bars] of c4hByPair) {
+    for (const b of bars) allBarCloseTs.add(b.ts + H4);
+  }
+  const sortedTs = Array.from(allBarCloseTs).sort((a, b) => a - b);
+
+  // Für schnellen Lookup: barCloseTs → per-pair {close, index}
+  // Aufgebaut inkrementell während der Iteration (kein Lookahead).
+  // next4hIndex[pair] = nächster noch nicht verarbeiteter Index in c4hByPair.get(pair)
+  const next4hIndex = new Map<Pair, number>();
+  for (const pair of PAIRS) next4hIndex.set(pair, 0);
+
+  // Letzter verarbeiteter Epochen-Wochen-Bucket (für Rebalance-Trigger)
+  let lastWeekBucket = -1;
+  // Merkt ob wir bereits mindestens einen Bar im Handelsfenster gesehen haben
+  let firstBarInWindow = true;
+  // Aktuell gehaltenes Pair (null = Cash)
+  let heldPair: Pair | null = null;
+
+  for (const barCloseTs of sortedTs) {
+    // Verarbeite alle Bars, deren Close-Timestamp == barCloseTs
+    // Aktualisiere lastClose für alle Pairs, die in diesem Timestamp einen Bar haben.
+    // Für Momentum: wir brauchen den Index dieses Bars (für Lookback).
+    const barIndexByPair = new Map<Pair, number>();
+
+    for (const pair of PAIRS) {
+      const bars = c4hByPair.get(pair);
+      if (!bars) continue;
+      let idx = next4hIndex.get(pair)!;
+      // Verarbeite alle Bars mit barCloseTs = ts + H4 == barCloseTs, d.h. ts == barCloseTs - H4
+      if (idx < bars.length && bars[idx].ts + H4 === barCloseTs) {
+        lastClose.set(pair, bars[idx].close);
+        barIndexByPair.set(pair, idx);
+        next4hIndex.set(pair, idx + 1);
+      }
+      // Wenn kein Bar für dieses Pair: lastClose bleibt auf dem letzten bekannten Wert,
+      // barIndexByPair hat keinen Eintrag → Pair ist bei Momentum ausgeschlossen.
+    }
+
+    // Equity-Punkt (nur im Handelsfenster)
+    if (barCloseTs >= cfg.tradeFrom && barCloseTs < cfg.tradeTo) {
+      equityCurve.push({ ts: barCloseTs, equity: portfolio.equity(lastClose) });
+    }
+
+    // Rebalance-Entscheid: nur innerhalb des Handelsfensters
+    if (barCloseTs < cfg.tradeFrom || barCloseTs >= cfg.tradeTo) continue;
+
+    const weekBucket = Math.floor(barCloseTs / WEEK);
+    const isNewWeek = weekBucket !== lastWeekBucket;
+    const isFirstBar = firstBarInWindow;
+
+    if (!isFirstBar && !isNewWeek) continue; // kein Rebalance-Trigger
+
+    lastWeekBucket = weekBucket;
+    firstBarInWindow = false;
+
+    // --- Momentum berechnen ---
+    // Nur Pairs, die in diesem barCloseTs einen Bar haben UND deren Index >= lookbackBars.
+    // Kein Lookahead: wir lesen nur bars[idx] (aktuell) und bars[idx - lookbackBars] (Vergangenheit).
+    let bestPair: Pair | null = null;
+    let bestMom = 0; // 0 = Schwelle (positiver Momentum erforderlich)
+
+    for (const pair of PAIRS) {
+      const idx = barIndexByPair.get(pair);
+      if (idx === undefined) continue; // Pair hat keinen Bar an diesem Timestamp
+      if (idx < cfg.lookbackBars) continue; // unzureichende Historie
+      const bars = c4hByPair.get(pair)!;
+      const closeNow = bars[idx].close;
+      const close30dAgo = bars[idx - cfg.lookbackBars].close;
+      // Momentum = closeNow / close30dAgo − 1
+      const mom = closeNow / close30dAgo - 1;
+      if (mom > bestMom) {
+        bestMom = mom;
+        bestPair = pair;
+      }
+    }
+
+    // Ziel: bestPair (oder null = Cash)
+    const target = bestPair; // null wenn alle Momenta <= 0
+
+    if (target === heldPair) continue; // kein Wechsel nötig
+
+    // --- Rotation ausführen ---
+    const fillPrice = (pair: Pair) => lastClose.get(pair) ?? 0;
+
+    // Schließe aktuelle Position
+    if (heldPair !== null && portfolio.positions.has(heldPair)) {
+      portfolio.close(heldPair, barCloseTs, fillPrice(heldPair), 'rotation');
+    }
+    heldPair = null;
+
+    // Öffne neue Position
+    if (target !== null) {
+      const price = fillPrice(target);
+      if (price > 0) {
+        const equity = portfolio.equity(lastClose);
+        // qty = cash × 0.995 / fill (Anpassung für Gebühren beim Entry)
+        // riskAmount = 1% des Eigenkapitals (nur für R-Multiple-Berechnung)
+        const qty = (portfolio.cash * 0.995) / (price * (1 + cfg.exec.slippage));
+        const riskAmount = equity * 0.01;
+        // initialStop=0: kein Stop; Portfolio.open benötigt den Parameter,
+        // aber Rotation-Exits passieren nur via rotation/end_of_data.
+        portfolio.open(target, barCloseTs, price, 0, qty, riskAmount, 'long');
+        heldPair = target;
+      }
+    }
+  }
+
+  // Offene Positionen am Ende glattstellen
+  if (heldPair !== null && portfolio.positions.has(heldPair)) {
+    portfolio.close(heldPair, cfg.tradeTo, lastClose.get(heldPair) ?? 0, 'end_of_data');
+  }
+
+  return {
+    trades: portfolio.trades,
+    equityCurve,
+    finalEquity: portfolio.equity(lastClose),
+  };
+}
--- a/src/server/backtest/runner.test.ts
+++ b/src/server/backtest/runner.test.ts
@@ -6,7 +6,8 @@ import { DEFAULT_EXEC } from '../engine/portfolio';
 import { H4 } from '../market/aggregate';

 const M15 = 15 * 60 * 1000;
-const P = { donchianPeriod: 3, atrPeriod: 3, atrMultiplier: 1, trendEmaPeriod: 5 };
+// adxThreshold: 0 — neutralisiert den ADX-Filter, damit Breakout-Tests unverändert bleiben
+const P = { donchianPeriod: 3, atrPeriod: 3, atrMultiplier: 1, trendEmaPeriod: 5, adxThreshold: 0 };

 /**
 * Synthetische 15m-Serie: Plateau (4h-Closes ~100), dann Breakout-4h-Candle
@@ -41,7 +42,7 @@ test('Breakout → Entry auf 4h-Close, Crash → Stop-Exit auf 15m', () => {
  const data = new Map<Pair, Candle[]>([['BTC_USDT', series()]]);
  const result = runBacktest(data, {
    startCapital: 1000, risk: DEFAULT_RISK, exec: DEFAULT_EXEC, maxPositions: 4,
-    params: P, tradeFrom: 0, tradeTo: Number.MAX_SAFE_INTEGER,
+    params: P, tradeFrom: 0, tradeTo: Number.MAX_SAFE_INTEGER, allowShort: false,
  });
  expect(result.trades).toHaveLength(1);
  const t = result.trades[0];
@@ -57,7 +58,7 @@ test('tradeFrom verhindert Entries im Warmup-Fenster', () => {
  const data = new Map<Pair, Candle[]>([['BTC_USDT', series()]]);
  const result = runBacktest(data, {
    startCapital: 1000, risk: DEFAULT_RISK, exec: DEFAULT_EXEC, maxPositions: 4,
-    params: P, tradeFrom: 100 * H4, tradeTo: Number.MAX_SAFE_INTEGER, // nach Serien-Ende
+    params: P, tradeFrom: 100 * H4, tradeTo: Number.MAX_SAFE_INTEGER, allowShort: false, // nach Serien-Ende
  });
  expect(result.trades).toHaveLength(0);
 });
@@ -73,7 +74,7 @@ test('Stop-Order ist ab Entry aktiv: Low der Entry-Candle unter Stop → soforti
  const data = new Map<Pair, Candle[]>([['BTC_USDT', s]]);
  const result = runBacktest(data, {
    startCapital: 1000, risk: DEFAULT_RISK, exec: DEFAULT_EXEC, maxPositions: 4,
-    params: P, tradeFrom: 0, tradeTo: Number.MAX_SAFE_INTEGER,
+    params: P, tradeFrom: 0, tradeTo: Number.MAX_SAFE_INTEGER, allowShort: false,
  });
  expect(result.trades).toHaveLength(1);
  expect(result.trades[0].exitReason).toBe('trailing_stop');
@@ -101,7 +102,7 @@ test('maxPositions: bei gleichzeitigen Signalen gewinnt die PAIRS-Reihenfolge',
  ]);
  const result = runBacktest(data, {
    startCapital: 1000, risk: DEFAULT_RISK, exec: DEFAULT_EXEC, maxPositions: 1,
-    params: P, tradeFrom: 0, tradeTo: Number.MAX_SAFE_INTEGER,
+    params: P, tradeFrom: 0, tradeTo: Number.MAX_SAFE_INTEGER, allowShort: false,
  });
  // beide Pairs haben identische Serien → beide signalisieren; nur BTC (erster in PAIRS) darf
  expect(result.trades).toHaveLength(1);
@@ -112,7 +113,61 @@ test('Determinismus: identischer Input → identisches Ergebnis', () => {
  const data = new Map<Pair, Candle[]>([['BTC_USDT', series()]]);
  const cfg = {
    startCapital: 1000, risk: DEFAULT_RISK, exec: DEFAULT_EXEC, maxPositions: 4,
-    params: P, tradeFrom: 0, tradeTo: Number.MAX_SAFE_INTEGER,
+    params: P, tradeFrom: 0, tradeTo: Number.MAX_SAFE_INTEGER, allowShort: false,
  };
  expect(JSON.stringify(runBacktest(data, cfg))).toBe(JSON.stringify(runBacktest(data, cfg)));
 });
+
+/**
+ * Synthetische Short-Serie:
+ *   - 7 Plateau-Buckets @ 100 (lows=100, highs=100): donchianLow=100, EMA5=100
+ *     → close(100) NICHT < donchianLow(100) → kein Short-Signal auf dem Plateau
+ *   - Breakdown-Bucket: close=85 < donchianLow(100) UND < EMA5(95) → Short-Signal
+ *   - Rallye-Bucket: High 130 reißt den Short-Stop (≈85 + 1×ATR)
+ *   - tradeTo = Breakdown-barCloseTs + H4: blockiert Long-Entry nach dem Short-Exit
+ */
+function shortSeries(): { candles: Candle[]; breakdownBarCloseTs: number } {
+  const s: Candle[] = [];
+  let b = 0;
+  // 7 Plateau-Buckets mit exakt flachen Candles (low=100=close=high)
+  for (let i = 0; i < 7; i++, b += H4) s.push(...flat4h(b, 100, 100, 100, 100));
+  const breakdownBucketStart = b;
+  // Breakdown: close=85 < donchianLow(100) AND < EMA5(~95)
+  s.push(...flat4h(b, 100, 100, 84, 85)); b += H4;
+  // Rallye: High 130 reißt Short-Stop (Stop ≈ 85+ATR)
+  s.push(...flat4h(b, 85, 130, 85, 120)); b += H4;
+  // Abschluss-Bucket (damit Rallye als abgeschlossen gilt)
+  s.push(...flat4h(b, 120, 121, 119, 120)); b += H4;
+  // tradeTo: Entry-Zeitpunkt des Breakdown = breakdownBucketStart + H4
+  // +H4 dahinter blockiert die Rallye von einem Long-Entry
+  return { candles: s, breakdownBarCloseTs: breakdownBucketStart + H4 };
+}
+
+test('Short-Breakout → Short-Entry auf 4h-Close, Rallye → Stop-Exit auf 15m', () => {
+  const { candles, breakdownBarCloseTs } = shortSeries();
+  // tradeTo = breakdownBarCloseTs + H4: Short-Entry (barCloseTs=breakdownBarCloseTs) ist erlaubt
+  // (breakdownBarCloseTs < tradeTo), aber der nächste Bar (barCloseTs=breakdownBarCloseTs+H4=tradeTo)
+  // ist blockiert → kein Long-Entry nach dem Short-Exit
+  const tradeTo = breakdownBarCloseTs + H4;
+  const data = new Map<Pair, Candle[]>([['BTC_USDT', candles]]);
+  const result = runBacktest(data, {
+    startCapital: 1000, risk: DEFAULT_RISK, exec: DEFAULT_EXEC, maxPositions: 4,
+    params: P, tradeFrom: 0, tradeTo, allowShort: true,
+  });
+  expect(result.trades).toHaveLength(1);
+  const t = result.trades[0];
+  // Entry: Short bei Close 85, Fill = 85*(1−slippage) = 85*0.9995
+  expect(t.entryPrice).toBeCloseTo(85 * 0.9995);
+  expect(t.exitReason).toBe('trailing_stop');
+  expect(t.side).toBe('short');
+  // Verlustbringender Short (Preis stieg stark) → pnl < 0
+  expect(t.pnl).toBeLessThan(0);
+
+  // Sanity: gleiche Daten mit allowShort=false → kein Trade
+  // (kein Long-Signal: nach Plateau breakout close=85 ist weit unter EMA → blocked)
+  const resultLongOnly = runBacktest(data, {
+    startCapital: 1000, risk: DEFAULT_RISK, exec: DEFAULT_EXEC, maxPositions: 4,
+    params: P, tradeFrom: 0, tradeTo, allowShort: false,
+  });
+  expect(resultLongOnly.trades).toHaveLength(0);
+});
--- a/src/server/backtest/runner.ts
+++ b/src/server/backtest/runner.ts
@@ -2,7 +2,7 @@ import type { Candle, Pair } from '../types';
 import { PAIRS } from '../types';
 import { aggregate4h, H4 } from '../market/aggregate';
 import { computeIndicators, evaluateAt, type StrategyParams, type IndicatorSet } from '../strategy/donchian-trend';
-import { updateChandelier } from '../strategy/chandelier';
+import { updateChandelier, updateChandelierShort } from '../strategy/chandelier';
 import { sizePosition, type RiskConfig } from '../engine/sizing';
 import { Portfolio, type ExecConfig, type ClosedTrade } from '../engine/portfolio';
 import type { EquityPoint } from './metrics';
@@ -15,6 +15,7 @@ export interface BacktestConfig {
  params: StrategyParams;
  tradeFrom: number; // ms inklusiv — Entries erst ab hier; Candles davor = Warmup
  tradeTo: number;   // ms exklusiv — danach wird zwangsglattgestellt
+  allowShort: boolean;
 }

 export interface BacktestResult {
@@ -69,15 +70,26 @@ export function runBacktest(candles15ByPair: Map<Pair, Candle[]>, cfg: BacktestC
      // 1a) Trailing-Stop der offenen Position nachziehen
      const pos = portfolio.positions.get(pair);
      if (pos) {
+        if (pos.side === 'short') {
+          const next = updateChandelierShort(
+            { lowestLow: pos.trailExtreme, stop: pos.stop },
+            bar.low,
+            ctx.ind.atr[i],
+            cfg.params.atrMultiplier,
+          );
+          pos.trailExtreme = next.lowestLow;
+          pos.stop = next.stop;
+        } else {
          const next = updateChandelier(
-          { highestHigh: pos.highestHigh, stop: pos.stop },
+            { highestHigh: pos.trailExtreme, stop: pos.stop },
            bar.high,
            ctx.ind.atr[i],
            cfg.params.atrMultiplier,
          );
-        pos.highestHigh = next.highestHigh;
+          pos.trailExtreme = next.highestHigh;
          pos.stop = next.stop;
        }
+      }

      // 1b) Entry-Evaluation
      const barCloseTs = bar.ts + H4;
@@ -87,12 +99,17 @@ export function runBacktest(candles15ByPair: Map<Pair, Candle[]>, cfg: BacktestC
        barCloseTs >= cfg.tradeFrom &&
        barCloseTs < cfg.tradeTo
      ) {
-        const ev = evaluateAt(ctx.c4h, ctx.ind, i);
+        const ev = evaluateAt(ctx.c4h, ctx.ind, i, cfg.params, cfg.allowShort);
        if (ev.signal === 'long') {
          const initialStop = ev.close - cfg.params.atrMultiplier * ev.atr;
          const equity = portfolio.equity(lastClose);
-          const s = sizePosition(equity, portfolio.cash, ev.close, initialStop, cfg.risk);
-          if (!s.blockedBy) portfolio.open(pair, barCloseTs, ev.close, initialStop, s.qty, s.riskAmount);
+          const s = sizePosition(equity, portfolio.cash, ev.close, initialStop, cfg.risk, 'long');
+          if (!s.blockedBy) portfolio.open(pair, barCloseTs, ev.close, initialStop, s.qty, s.riskAmount, 'long');
+        } else if (ev.signal === 'short') {
+          const initialStop = ev.close + cfg.params.atrMultiplier * ev.atr;
+          const equity = portfolio.equity(lastClose);
+          const s = sizePosition(equity, portfolio.cash, ev.close, initialStop, cfg.risk, 'short');
+          if (!s.blockedBy) portfolio.open(pair, barCloseTs, ev.close, initialStop, s.qty, s.riskAmount, 'short');
        }
      }
    }
@@ -102,10 +119,21 @@ export function runBacktest(candles15ByPair: Map<Pair, Candle[]>, cfg: BacktestC
    //    ihre gesamte Range liegt nach dem Fill — eine echte Stop-Order wäre aktiv).
    //    Pessimistisch-realistisch, nicht "wegoptimieren".
    const pos = portfolio.positions.get(pair);
-    if (pos && candle.low <= pos.stop) {
+    if (pos) {
+      if (pos.side === 'short') {
+        // Short: Stop wird getriggert wenn High >= Stop (Deckungskauf)
+        if (candle.high >= pos.stop) {
+          const exitPrice = candle.open > pos.stop ? candle.open : pos.stop; // Gap → schlechterer Fill (höherer Preis)
+          portfolio.close(pair, ts, exitPrice, 'trailing_stop');
+        }
+      } else {
+        // Long: Stop wird getriggert wenn Low <= Stop
+        if (candle.low <= pos.stop) {
          const exitPrice = candle.open < pos.stop ? candle.open : pos.stop; // Gap → schlechterer Fill
          portfolio.close(pair, ts, exitPrice, 'trailing_stop');
        }
+      }
+    }

    lastClose.set(pair, candle.close);

--- a/src/server/backtest/walkforward.test.ts
+++ b/src/server/backtest/walkforward.test.ts
@@ -105,7 +105,7 @@ test('runWalkForward: OOS-Leak-Test mit synthetischen Daten', () => {

  const result = runWalkForward(
    data,
-    { startCapital: 1000, risk: DEFAULT_RISK, exec: DEFAULT_EXEC, maxPositions: 4 },
+    { startCapital: 1000, risk: DEFAULT_RISK, exec: DEFAULT_EXEC, maxPositions: 4, allowShort: false },
    dataFrom,
    dataTo,
  );
--- a/src/server/backtest/walkforward.ts
+++ b/src/server/backtest/walkforward.ts
@@ -29,7 +29,13 @@ export function buildWindows(dataFrom: number, dataTo: number, trainDays = 120,

 export const PARAM_GRID: StrategyParams[] = [20, 40, 55].flatMap((donchianPeriod) =>
  [2, 3, 4].flatMap((atrMultiplier) =>
-    [100, 200].map((trendEmaPeriod) => ({ donchianPeriod, atrPeriod: 14, atrMultiplier, trendEmaPeriod })),
+    [100, 200].map((trendEmaPeriod) => ({
+      donchianPeriod,
+      atrPeriod: 14,
+      atrMultiplier,
+      trendEmaPeriod,
+      adxThreshold: 20, // fix, nicht im Grid: zusätzlicher Freiheitsgrad würde das Gate aushöhlen
+    })),
  ),
 );

@@ -94,6 +100,42 @@ export interface WalkForwardResult {

 type BaseConfig = Omit<BacktestConfig, 'params' | 'tradeFrom' | 'tradeTo'>;

+/**
+ * OOS-Aggregat aus einer Liste von WindowResults (oder strukturgleichen Objekten):
+ * Trades kombiniert, Equity-Kurven multiplikativ verkettet, Gate berechnet.
+ * Wiederverwendbar für alle Walk-Forward-Varianten (Donchian, Rotation, …).
+ */
+export function aggregateOos(
+  results: { trainMetrics: Metrics; testMetrics: Metrics; testTrades: ClosedTrade[]; testEquityCurve: EquityPoint[] }[],
+  startCapital: number,
+): { oosTrades: ClosedTrade[]; oosEquityCurve: EquityPoint[]; oosMetrics: Metrics; gate: GateResult } {
+  const oosTrades = results.flatMap((r) => r.testTrades);
+  const oosEquityCurve: EquityPoint[] = [];
+  let scale = 1;
+  for (const r of results) {
+    for (const p of r.testEquityCurve) {
+      oosEquityCurve.push({ ts: p.ts, equity: startCapital * scale * (p.equity / startCapital) });
+    }
+    const last = r.testEquityCurve.at(-1);
+    if (last) scale *= last.equity / startCapital;
+  }
+  const oosMetrics = computeMetrics(oosTrades, oosEquityCurve, startCapital);
+
+  const worst = pickWorstEligibleWindow(results.map((r) => r.testMetrics));
+  const finiteTrainPfs = results.map((r) => Math.min(r.trainMetrics.profitFactor, 10)); // Infinity kappen
+  const avgTrainPf = finiteTrainPfs.reduce((s, v) => s + v, 0) / Math.max(1, finiteTrainPfs.length);
+
+  const gate = evaluateGate({
+    oosProfitFactor: oosMetrics.profitFactor,
+    oosTrades: oosMetrics.trades,
+    oosMaxDrawdownPct: oosMetrics.maxDrawdownPct,
+    worstWindow: worst,
+    avgTrainPf,
+  });
+
+  return { oosTrades, oosEquityCurve, oosMetrics, gate };
+}
+
 /** PF-Vergleich mit Infinity-Handling: Infinity schlägt alles, Tie-Break TotalPnl. */
 function better(a: Metrics, b: Metrics): boolean {
  if (a.profitFactor !== b.profitFactor) return a.profitFactor > b.profitFactor;
@@ -106,16 +148,17 @@ export function runWalkForward(
  dataFrom: number,
  dataTo: number,
  onProgress?: (msg: string) => void,
+  grid: StrategyParams[] = PARAM_GRID,
 ): WalkForwardResult {
  const windows = buildWindows(dataFrom, dataTo);
  const results: WindowResult[] = [];

  for (const [wi, w] of windows.entries()) {
-    let bestParams = PARAM_GRID[0];
+    let bestParams = grid[0];
    let bestMetrics: Metrics | null = null;
    let bestEligible = false;

-    for (const params of PARAM_GRID) {
+    for (const params of grid) {
      const r = runBacktest(candles15ByPair, { ...baseCfg, params, tradeFrom: w.trainFrom, tradeTo: w.trainTo });
      const m = computeMetrics(r.trades, r.equityCurve, baseCfg.startCapital);
      const eligible = m.trades >= 5;
@@ -142,30 +185,7 @@ export function runWalkForward(
    );
  }

-  // OOS-Aggregat: Trades kombiniert, Equity-Kurven multiplikativ verkettet
-  const oosTrades = results.flatMap((r) => r.testTrades);
-  const oosEquityCurve: EquityPoint[] = [];
-  let scale = 1;
-  for (const r of results) {
-    for (const p of r.testEquityCurve) {
-      oosEquityCurve.push({ ts: p.ts, equity: baseCfg.startCapital * scale * (p.equity / baseCfg.startCapital) });
-    }
-    const last = r.testEquityCurve.at(-1);
-    if (last) scale *= last.equity / baseCfg.startCapital;
-  }
-  const oosMetrics = computeMetrics(oosTrades, oosEquityCurve, baseCfg.startCapital);
-
-  const worst = pickWorstEligibleWindow(results.map((r) => r.testMetrics));
-  const finiteTrainPfs = results.map((r) => Math.min(r.trainMetrics.profitFactor, 10)); // Infinity kappen
-  const avgTrainPf = finiteTrainPfs.reduce((s, v) => s + v, 0) / Math.max(1, finiteTrainPfs.length);
-
-  const gate = evaluateGate({
-    oosProfitFactor: oosMetrics.profitFactor,
-    oosTrades: oosMetrics.trades,
-    oosMaxDrawdownPct: oosMetrics.maxDrawdownPct,
-    worstWindow: worst,
-    avgTrainPf,
-  });
+  const { oosTrades, oosEquityCurve, oosMetrics, gate } = aggregateOos(results, baseCfg.startCapital);

  return { windows: results, oosMetrics, oosEquityCurve, gate };
 }
--- a/src/server/config.ts
+++ b/src/server/config.ts
@@ -2,6 +2,7 @@ import { z } from 'zod';

 const Env = z.object({
  DATABASE_URL: z.string().url(),
+  PORT: z.coerce.number().default(8080),
 });

 export const env = Env.parse(process.env);
--- a/src/server/db/schema.ts
+++ b/src/server/db/schema.ts
@@ -1,4 +1,4 @@
-import { doublePrecision, jsonb, pgTable, primaryKey, serial, text, timestamp, varchar } from 'drizzle-orm/pg-core';
+import { doublePrecision, integer, jsonb, pgTable, primaryKey, serial, text, timestamp, uniqueIndex, varchar } from 'drizzle-orm/pg-core';

 export const candles = pgTable(
  'candles',
@@ -14,6 +14,67 @@ export const candles = pgTable(
  (t) => [primaryKey({ columns: [t.pair, t.ts] })],
 );

+export const positions = pgTable('positions', {
+  pair: varchar('pair', { length: 16 }).primaryKey(),
+  side: text('side').notNull(), // 'long' | 'short'
+  qty: doublePrecision('qty').notNull(),
+  entryTs: timestamp('entry_ts', { withTimezone: true }).notNull(),
+  entryPrice: doublePrecision('entry_price').notNull(),
+  entryCost: doublePrecision('entry_cost').notNull(),
+  initialStop: doublePrecision('initial_stop').notNull(),
+  stop: doublePrecision('stop').notNull(),
+  trailExtreme: doublePrecision('trail_extreme').notNull(),
+  riskAmount: doublePrecision('risk_amount').notNull(),
+});
+
+export const paperTrades = pgTable('paper_trades', {
+  id: serial('id').primaryKey(),
+  pair: varchar('pair', { length: 16 }).notNull(),
+  side: text('side').notNull(),
+  entryTs: timestamp('entry_ts', { withTimezone: true }).notNull(),
+  entryPrice: doublePrecision('entry_price').notNull(),
+  exitTs: timestamp('exit_ts', { withTimezone: true }).notNull(),
+  exitPrice: doublePrecision('exit_price').notNull(),
+  qty: doublePrecision('qty').notNull(),
+  pnl: doublePrecision('pnl').notNull(),
+  r: doublePrecision('r').notNull(),
+  exitReason: text('exit_reason').notNull(),
+});
+
+export const decisionLogs = pgTable(
+  'decision_logs',
+  {
+    id: serial('id').primaryKey(),
+    pair: varchar('pair', { length: 16 }).notNull(),
+    barTs: timestamp('bar_ts', { withTimezone: true }).notNull(), // Start der 4h-Bar
+    signal: text('signal'), // 'long' | null
+    blockedBy: text('blocked_by'), // Evaluation.blockedBy | 'position_open' | 'max_positions' | Sizing-Block
+    close: doublePrecision('close').notNull(),
+    atr: doublePrecision('atr'),
+    adx: doublePrecision('adx'),
+    donchianHigh: doublePrecision('donchian_high'),
+    trendEma: doublePrecision('trend_ema'),
+    priceAfter4h: doublePrecision('price_after_4h'),
+    priceAfter24h: doublePrecision('price_after_24h'),
+    priceAfter72h: doublePrecision('price_after_72h'),
+  },
+  (t) => [uniqueIndex('decision_logs_pair_bar_ts').on(t.pair, t.barTs)],
+);
+
+export const botState = pgTable('bot_state', {
+  id: integer('id').primaryKey(), // immer 1
+  cash: doublePrecision('cash').notNull(),
+  startCapital: doublePrecision('start_capital').notNull(),
+  cursorTs: timestamp('cursor_ts', { withTimezone: true }).notNull(), // letzte verarbeitete 15m-Candle
+  updatedAt: timestamp('updated_at', { withTimezone: true }).notNull().defaultNow(),
+});
+
+export const equitySnapshots = pgTable('equity_snapshots', {
+  ts: timestamp('ts', { withTimezone: true }).primaryKey(), // 4h-Bucket
+  equity: doublePrecision('equity').notNull(),
+  cash: doublePrecision('cash').notNull(),
+});
+
 export const backtestRuns = pgTable('backtest_runs', {
  id: serial('id').primaryKey(),
  createdAt: timestamp('created_at', { withTimezone: true }).notNull().defaultNow(),
--- a/src/server/engine/portfolio.ts
+++ b/src/server/engine/portfolio.ts
@@ -31,7 +31,7 @@ export interface ClosedTrade {
  qty: number;
  pnl: number;
  r: number;
-  exitReason: 'trailing_stop' | 'end_of_data';
+  exitReason: 'trailing_stop' | 'end_of_data' | 'rotation';
  side: 'long' | 'short';
 }

--- a/src/server/index.ts
+++ b/src/server/index.ts
@@ -0,0 +1,13 @@
+import { env } from './config';
+import { LiveEngine } from './live/engine';
+import { createServer } from './api/server';
+
+const CYCLE_MS = 5 * 60 * 1000;
+
+const engine = new LiveEngine();
+await engine.init();
+createServer(engine, env.PORT);
+console.log(`trade-kuns Live-Paper-Engine läuft auf :${env.PORT}`);
+
+void engine.runCycle();
+setInterval(() => void engine.runCycle(), CYCLE_MS);
--- a/src/server/indicators/adx.test.ts
+++ b/src/server/indicators/adx.test.ts
@@ -0,0 +1,91 @@
+import { expect, test } from 'bun:test';
+import type { Candle } from '../types';
+import { adx } from './adx';
+
+function c(h: number, l: number, cl: number): Candle {
+  return { ts: 0, open: cl, high: h, low: l, close: cl, volume: 1 };
+}
+
+// --- (a) NaN vor Index 2×period−1 ---
+
+test('ADX: NaN vor Warmup (Index < 2×period−1)', () => {
+  // period=3 → erste valide Stelle: Index 5 (= 2×3−1)
+  // Starker Aufwärtstrend: high=close, low=close−0.5, +1 pro Bar
+  const candles: Candle[] = [];
+  for (let i = 0; i < 10; i++) candles.push(c(i + 1, i + 0.5, i + 1));
+  const result = adx(candles, 3);
+  // Alle Indizes < 5 müssen NaN sein
+  for (let i = 0; i < 5; i++) {
+    expect(Number.isNaN(result[i])).toBe(true);
+  }
+  // Index 5 muss ein valider Wert sein
+  expect(Number.isNaN(result[5])).toBe(false);
+});
+
+test('ADX: zu kurze Serie → alles NaN', () => {
+  // n=5 < 2×3=6 → alles NaN
+  const candles: Candle[] = [];
+  for (let i = 0; i < 5; i++) candles.push(c(i + 1, i + 0.5, i + 1));
+  const result = adx(candles, 3);
+  expect(result.every(Number.isNaN)).toBe(true);
+});
+
+// --- (b) Starker Aufwärtstrend → ADX hoch (> 50) ---
+//
+// Serie: high = close = i+1, low = i+0.5 → stetig +1/Bar.
+// Jede Bar: up = 1 (high-Diff), down = -1 (<0) → plusDM=1, minusDM=0.
+// TR = max(0.5, |high−prevClose|, |low−prevClose|) = max(0.5, 1, 0.5) = 1
+//   (ab Bar 1: high[i]=i+1, prevClose=i → |high−prevClose|=1)
+// period=3: sTR=3, sPlus=3, sMinus=0 → DI+=100, DI−=0 → DX=100.
+// Wilder-Glättung hält DX=100 (reine Aufwärtsbewegung bleibt konstant).
+// ADX[5] = (DX[3]+DX[4]+DX[5])/3 = 100. Alle späteren ebenfalls 100.
+
+test('ADX: starker Aufwärtstrend → ADX > 50 nach Warmup', () => {
+  const candles: Candle[] = [];
+  // close = i+1, high = close, low = close−0.5
+  // Achtung: Bar 0 hat kein prevClose → TR[0]=high[0]−low[0]=0.5 (wird nicht in InitSum genutzt)
+  for (let i = 0; i < 20; i++) candles.push(c(i + 1, i + 0.5, i + 1));
+  const result = adx(candles, 3);
+  // Ab Index 5 (erster valider Wert) bis Ende: ADX muss > 50 sein
+  for (let i = 5; i < result.length; i++) {
+    expect(result[i]).toBeGreaterThan(50);
+  }
+});
+
+// --- (c) Völlig flache Candles → ADX = 0 (nicht NaN) ---
+//
+// H=L=C=100 für alle Bars.
+// TR=0, plusDM=0, minusDM=0 → sTR=0 → computeDx gibt 0 zurück.
+// DX=0 → ADX=0.
+
+test('ADX: flache Candles → ADX = 0 (nicht NaN)', () => {
+  const candles: Candle[] = Array.from({ length: 20 }, () => c(100, 100, 100));
+  const result = adx(candles, 3);
+  // Indizes < 5: NaN
+  for (let i = 0; i < 5; i++) expect(Number.isNaN(result[i])).toBe(true);
+  // Ab Index 5: exakt 0
+  for (let i = 5; i < result.length; i++) expect(result[i]).toBe(0);
+});
+
+// --- (d) Zickzack (gleich große Auf/Ab-Bewegungen) → ADX < 25 nach Warmup ---
+//
+// Serie: close alterniert 0,1,0,1,0,1,...; high=close+0.5, low=close−0.5.
+// UpBar (close steigt): up=1, down=−1<0 → plusDM=1, minusDM=0.
+// DownBar (close fällt): up=−1<0, down=1 → plusDM=0, minusDM=1.
+// Kein klarer Trend → DX bleibt moderat, ADX konvergiert deutlich unter 25
+// bei ausreichend langer Serie (ab Index ~12 stabil).
+// Mit 30 Candles und period=3 hat ADX 25 Schritte nach dem Warmup zum Einpendeln.
+
+test('ADX: Zickzack-Markt → ADX < 25 nach ausreichend Warmup', () => {
+  const candles: Candle[] = [];
+  for (let i = 0; i < 30; i++) {
+    const cl = i % 2 === 0 ? 0 : 1;
+    candles.push(c(cl + 0.5, cl - 0.5, cl));
+  }
+  const result = adx(candles, 3);
+  // Prüfe späte Indizes (ab 12), damit Einpendeln abgeschlossen ist
+  for (let i = 12; i < result.length; i++) {
+    expect(Number.isNaN(result[i])).toBe(false);
+    expect(result[i]).toBeLessThan(25);
+  }
+});
--- a/src/server/indicators/adx.ts
+++ b/src/server/indicators/adx.ts
@@ -0,0 +1,44 @@
+import type { Candle } from '../types';
+
+/** Wilder ADX: +DM/−DM → Wilder-geglättet → DI± → DX → ADX. NaN vor Index 2×period−1. */
+export function adx(candles: Candle[], period: number): number[] {
+  const n = candles.length;
+  const out = new Array<number>(n).fill(NaN);
+  if (n < 2 * period) return out;
+  const plusDM = [0];
+  const minusDM = [0];
+  const tr = [candles[0].high - candles[0].low];
+  for (let i = 1; i < n; i++) {
+    const up = candles[i].high - candles[i - 1].high;
+    const down = candles[i - 1].low - candles[i].low;
+    plusDM.push(up > down && up > 0 ? up : 0);
+    minusDM.push(down > up && down > 0 ? down : 0);
+    tr.push(Math.max(
+      candles[i].high - candles[i].low,
+      Math.abs(candles[i].high - candles[i - 1].close),
+      Math.abs(candles[i].low - candles[i - 1].close),
+    ));
+  }
+  let sTR = 0, sPlus = 0, sMinus = 0;
+  for (let i = 1; i <= period; i++) { sTR += tr[i]; sPlus += plusDM[i]; sMinus += minusDM[i]; }
+  const dx = new Array<number>(n).fill(NaN);
+  const computeDx = () => {
+    if (sTR === 0) return 0; // völlig flacher Markt
+    const plusDI = (100 * sPlus) / sTR;
+    const minusDI = (100 * sMinus) / sTR;
+    const sum = plusDI + minusDI;
+    return sum === 0 ? 0 : (100 * Math.abs(plusDI - minusDI)) / sum;
+  };
+  dx[period] = computeDx();
+  for (let i = period + 1; i < n; i++) {
+    sTR = sTR - sTR / period + tr[i];
+    sPlus = sPlus - sPlus / period + plusDM[i];
+    sMinus = sMinus - sMinus / period + minusDM[i];
+    dx[i] = computeDx();
+  }
+  let sum = 0;
+  for (let i = period; i < 2 * period; i++) sum += dx[i];
+  out[2 * period - 1] = sum / period;
+  for (let i = 2 * period; i < n; i++) out[i] = (out[i - 1] * (period - 1) + dx[i]) / period;
+  return out;
+}
--- a/src/server/live/engine.ts
+++ b/src/server/live/engine.ts
@@ -0,0 +1,226 @@
+import { and, eq, isNull, lte, sql as dsql } from 'drizzle-orm';
+import { db } from '../db/client';
+import { botState, candles, decisionLogs, equitySnapshots, paperTrades, positions } from '../db/schema';
+import { fetchCandles } from '../market/cryptocom';
+import { getCandles, insertCandles } from '../market/candle-store';
+import { H4 } from '../market/aggregate';
+import { DEFAULT_PARAMS } from '../strategy/donchian-trend';
+import { DEFAULT_RISK } from '../engine/sizing';
+import { DEFAULT_EXEC, type Position } from '../engine/portfolio';
+import type { Candle, Pair } from '../types';
+import { PAIRS } from '../types';
+import { processCycle, type CycleConfig, type CycleResult, type LiveState } from './process-cycle';
+
+const M15 = 15 * 60 * 1000;
+const START_CAPITAL = 1000;
+/** Warmup: 600 4h-Bars (~100 Tage) — EMA-200 braucht 200 + Konvergenz-Puffer. */
+const WARMUP_4H_BARS = 600;
+
+export const CYCLE_CONFIG: CycleConfig = {
+  risk: DEFAULT_RISK,
+  exec: DEFAULT_EXEC,
+  params: DEFAULT_PARAMS,
+  maxPositions: 4,
+};
+
+export interface EngineStatus {
+  lastCycleAt: number | null;
+  lastCycleOk: boolean;
+  lastError: string | null;
+  pairErrors: Partial<Record<Pair, string>>;
+  cursorTs: number | null;
+}
+
+export class LiveEngine {
+  status: EngineStatus = { lastCycleAt: null, lastCycleOk: true, lastError: null, pairErrors: {}, cursorTs: null };
+  private cycling = false;
+
+  /** Legt bot_state beim allerersten Start an: 1000 USDT, Cursor = jüngste abgeschlossene 15m-Candle. */
+  async init(): Promise<void> {
+    const [row] = await db.select().from(botState).where(eq(botState.id, 1));
+    if (row) {
+      this.status.cursorTs = row.cursorTs.getTime();
+      return;
+    }
+    const now = Date.now();
+    const cursor = Math.floor(now / M15) * M15 - M15; // letzte sicher abgeschlossene 15m-Candle
+    await db.insert(botState).values({
+      id: 1,
+      cash: START_CAPITAL,
+      startCapital: START_CAPITAL,
+      cursorTs: new Date(cursor),
+    });
+    this.status.cursorTs = cursor;
+  }
+
+  async runCycle(): Promise<void> {
+    if (this.cycling) return;
+    this.cycling = true;
+    try {
+      const state = await this.loadState();
+      await this.fetchGaps(state.cursorTs);
+      const candles15 = await this.loadCandles(state.cursorTs);
+      const result = processCycle(candles15, state, CYCLE_CONFIG);
+      await this.persist(state, result);
+      await this.backfillOutcomes();
+      this.status.lastCycleAt = Date.now();
+      this.status.lastCycleOk = true;
+      this.status.lastError = null;
+      this.status.cursorTs = result.cursorTs;
+    } catch (err) {
+      this.status.lastCycleAt = Date.now();
+      this.status.lastCycleOk = false;
+      this.status.lastError = err instanceof Error ? err.message : String(err);
+      console.error('Zyklus fehlgeschlagen:', err);
+    } finally {
+      this.cycling = false;
+    }
+  }
+
+  private async loadState(): Promise<LiveState> {
+    const [row] = await db.select().from(botState).where(eq(botState.id, 1));
+    if (!row) throw new Error('bot_state fehlt — init() nicht gelaufen?');
+    const posRows = await db.select().from(positions);
+    const pos: Position[] = posRows.map((p) => ({
+      pair: p.pair as Pair,
+      qty: p.qty,
+      entryTs: p.entryTs.getTime(),
+      entryPrice: p.entryPrice,
+      entryCost: p.entryCost,
+      initialStop: p.initialStop,
+      stop: p.stop,
+      trailExtreme: p.trailExtreme,
+      riskAmount: p.riskAmount,
+      side: p.side as 'long' | 'short',
+    }));
+    return { cash: row.cash, positions: pos, cursorTs: row.cursorTs.getTime() };
+  }
+
+  /** Holt fehlende 15m-Candles seit Cursor je Pair; Pair-Fehler überspringen den Rest nicht. */
+  private async fetchGaps(cursorTs: number): Promise<void> {
+    const now = Date.now();
+    this.status.pairErrors = {};
+    for (const pair of PAIRS) {
+      try {
+        const fresh: Candle[] = [];
+        let endTs: number | undefined;
+        // rückwärts paginieren bis der Cursor abgedeckt ist (Normalfall: 1 Request)
+        for (let i = 0; i < 40; i++) {
+          const batch = await fetchCandles(pair, '15m', 300, endTs);
+          if (batch.length === 0) break;
+          fresh.push(...batch);
+          const oldest = Math.min(...batch.map((c) => c.ts));
+          if (oldest <= cursorTs) break;
+          endTs = oldest - 1;
+        }
+        const closed = fresh.filter((c) => c.ts + M15 <= now && c.ts > cursorTs);
+        if (closed.length > 0) await insertCandles(pair, closed);
+      } catch (err) {
+        this.status.pairErrors[pair] = err instanceof Error ? err.message : String(err);
+      }
+    }
+  }
+
+  private async loadCandles(cursorTs: number): Promise<Map<Pair, Candle[]>> {
+    const from = Math.floor(cursorTs / H4) * H4 - WARMUP_4H_BARS * H4;
+    const map = new Map<Pair, Candle[]>();
+    for (const pair of PAIRS) {
+      map.set(pair, await getCandles(pair, from));
+    }
+    return map;
+  }
+
+  private async persist(prev: LiveState, result: CycleResult): Promise<void> {
+    await db.transaction(async (tx) => {
+      const keep = new Set(result.positions.map((p) => p.pair));
+      for (const p of prev.positions) {
+        if (!keep.has(p.pair)) await tx.delete(positions).where(eq(positions.pair, p.pair));
+      }
+      for (const p of result.positions) {
+        const row = {
+          pair: p.pair,
+          side: p.side,
+          qty: p.qty,
+          entryTs: new Date(p.entryTs),
+          entryPrice: p.entryPrice,
+          entryCost: p.entryCost,
+          initialStop: p.initialStop,
+          stop: p.stop,
+          trailExtreme: p.trailExtreme,
+          riskAmount: p.riskAmount,
+        };
+        await tx.insert(positions).values(row).onConflictDoUpdate({ target: positions.pair, set: row });
+      }
+      if (result.closedTrades.length > 0) {
+        await tx.insert(paperTrades).values(
+          result.closedTrades.map((t) => ({
+            pair: t.pair,
+            side: t.side,
+            entryTs: new Date(t.entryTs),
+            entryPrice: t.entryPrice,
+            exitTs: new Date(t.exitTs),
+            exitPrice: t.exitPrice,
+            qty: t.qty,
+            pnl: t.pnl,
+            r: t.r,
+            exitReason: t.exitReason,
+          })),
+        );
+      }
+      if (result.decisions.length > 0) {
+        await tx
+          .insert(decisionLogs)
+          .values(
+            result.decisions.map((d) => ({
+              pair: d.pair,
+              barTs: new Date(d.barTs),
+              signal: d.signal,
+              blockedBy: d.blockedBy,
+              close: d.close,
+              atr: Number.isNaN(d.atr) ? null : d.atr,
+              adx: Number.isNaN(d.adx) ? null : d.adx,
+              donchianHigh: Number.isNaN(d.donchianHigh) ? null : d.donchianHigh,
+              trendEma: Number.isNaN(d.trendEma) ? null : d.trendEma,
+            })),
+          )
+          .onConflictDoNothing();
+      }
+      for (const s of result.equitySnapshots) {
+        const row = { ts: new Date(s.ts), equity: s.equity, cash: s.cash };
+        await tx.insert(equitySnapshots).values(row).onConflictDoUpdate({ target: equitySnapshots.ts, set: row });
+      }
+      await tx
+        .update(botState)
+        .set({ cash: result.cash, cursorTs: new Date(result.cursorTs), updatedAt: new Date() })
+        .where(eq(botState.id, 1));
+    });
+  }
+
+  /** Füllt price_after_4h/24h/72h in decision_logs, sobald die Candles vorliegen. */
+  private async backfillOutcomes(): Promise<void> {
+    const now = Date.now();
+    const horizons = [
+      { col: decisionLogs.priceAfter4h, key: 'priceAfter4h' as const, ms: 4 * 60 * 60 * 1000 },
+      { col: decisionLogs.priceAfter24h, key: 'priceAfter24h' as const, ms: 24 * 60 * 60 * 1000 },
+      { col: decisionLogs.priceAfter72h, key: 'priceAfter72h' as const, ms: 72 * 60 * 60 * 1000 },
+    ];
+    for (const h of horizons) {
+      const due = await db
+        .select({ id: decisionLogs.id, pair: decisionLogs.pair, barTs: decisionLogs.barTs })
+        .from(decisionLogs)
+        .where(and(isNull(h.col), lte(decisionLogs.barTs, new Date(now - H4 - h.ms))))
+        .limit(200);
+      for (const d of due) {
+        // Entscheidung fällt am Bar-Close (barTs + 4h); Ziel = 15m-Close bei +Horizont
+        const target = d.barTs.getTime() + H4 + h.ms - M15;
+        const [c] = await db
+          .select({ close: candles.close })
+          .from(candles)
+          .where(and(eq(candles.pair, d.pair), lte(candles.ts, new Date(target))))
+          .orderBy(dsql`${candles.ts} desc`)
+          .limit(1);
+        if (c) await db.update(decisionLogs).set({ [h.key]: c.close }).where(eq(decisionLogs.id, d.id));
+      }
+    }
+  }
+}
--- a/src/server/live/process-cycle.test.ts
+++ b/src/server/live/process-cycle.test.ts
@@ -0,0 +1,103 @@
+import { describe, expect, test } from 'bun:test';
+import type { Candle, Pair } from '../types';
+import { DEFAULT_PARAMS } from '../strategy/donchian-trend';
+import { DEFAULT_RISK } from '../engine/sizing';
+import { DEFAULT_EXEC } from '../engine/portfolio';
+import { runBacktest } from '../backtest/runner';
+import { processCycle, type CycleConfig, type LiveState } from './process-cycle';
+
+const M15 = 15 * 60 * 1000;
+const CFG: CycleConfig = { risk: DEFAULT_RISK, exec: DEFAULT_EXEC, params: DEFAULT_PARAMS, maxPositions: 4 };
+
+/**
+ * Synthetische 15m-Serie: langer Aufwärtstrend (löst Donchian-Breakout + EMA + ADX aus),
+ * dann scharfer Absturz (löst Trailing-Stop aus), dann erneuter Anstieg.
+ */
+function syntheticCandles(): Candle[] {
+  const out: Candle[] = [];
+  const t0 = Date.UTC(2025, 0, 1);
+  let price = 100;
+  const bars = 16 * 320; // 320 4h-Bars
+  for (let k = 0; k < bars; k++) {
+    const phase = Math.floor(k / 16);
+    let drift: number;
+    if (phase < 240) drift = 0.05;        // Warmup + Trend aufwärts
+    else if (phase < 260) drift = -1.5;   // Crash → Stop
+    else drift = 0.08;                    // Erholung
+    const open = price;
+    price = Math.max(10, price + drift + 0.3 * Math.sin(k / 7));
+    const close = price;
+    out.push({
+      ts: t0 + k * M15,
+      open,
+      high: Math.max(open, close) + 0.2,
+      low: Math.min(open, close) - 0.2,
+      close,
+      volume: 1,
+    });
+  }
+  return out;
+}
+
+const PAIR: Pair = 'BTC_USDT';
+
+function freshState(candles: Candle[]): LiveState {
+  return { cash: 1000, positions: [], cursorTs: candles[0].ts - 1 };
+}
+
+describe('processCycle', () => {
+  test('erzeugt Trades und Decisions auf der synthetischen Serie', () => {
+    const c15 = syntheticCandles();
+    const res = processCycle(new Map([[PAIR, c15]]), freshState(c15), CFG);
+    expect(res.closedTrades.length).toBeGreaterThan(0);
+    expect(res.decisions.length).toBeGreaterThan(100);
+    expect(res.cursorTs).toBe(c15[c15.length - 1].ts);
+  });
+
+  test('Parität mit Backtest-Runner (identische Trades)', () => {
+    const c15 = syntheticCandles();
+    const map = new Map([[PAIR, c15]]);
+    const live = processCycle(map, freshState(c15), CFG);
+    const bt = runBacktest(map, {
+      startCapital: 1000,
+      risk: DEFAULT_RISK,
+      exec: DEFAULT_EXEC,
+      maxPositions: 4,
+      params: DEFAULT_PARAMS,
+      tradeFrom: 0,
+      tradeTo: c15[c15.length - 1].ts + M15,
+      allowShort: false,
+    });
+    const btStops = bt.trades.filter((t) => t.exitReason === 'trailing_stop');
+    expect(live.closedTrades).toEqual(btStops);
+  });
+
+  test('Split-Äquivalenz: ein Lauf ≡ zwei Läufe mit Cut dazwischen', () => {
+    const c15 = syntheticCandles();
+    const map = new Map([[PAIR, c15]]);
+    const full = processCycle(map, freshState(c15), CFG);
+
+    const cut = c15[Math.floor(c15.length * 0.8)].ts;
+    const firstHalf = new Map([[PAIR, c15.filter((c) => c.ts <= cut)]]);
+    const r1 = processCycle(firstHalf, freshState(c15), CFG);
+    const r2 = processCycle(map, { cash: r1.cash, positions: r1.positions, cursorTs: r1.cursorTs }, CFG);
+
+    expect(r2.cursorTs).toBe(full.cursorTs);
+    expect(r2.cash).toBeCloseTo(full.cash, 8);
+    expect(r2.positions).toEqual(full.positions);
+    expect([...r1.closedTrades, ...r2.closedTrades]).toEqual(full.closedTrades);
+    expect([...r1.decisions, ...r2.decisions]).toEqual(full.decisions);
+  });
+
+  test('Idempotenz: zweiter Lauf ohne neue Candles ist ein No-op', () => {
+    const c15 = syntheticCandles();
+    const map = new Map([[PAIR, c15]]);
+    const r1 = processCycle(map, freshState(c15), CFG);
+    const r2 = processCycle(map, { cash: r1.cash, positions: r1.positions, cursorTs: r1.cursorTs }, CFG);
+    expect(r2.closedTrades).toEqual([]);
+    expect(r2.decisions).toEqual([]);
+    expect(r2.cash).toBe(r1.cash);
+    expect(r2.cursorTs).toBe(r1.cursorTs);
+    expect(r2.positions).toEqual(r1.positions);
+  });
+});
--- a/src/server/live/process-cycle.ts
+++ b/src/server/live/process-cycle.ts
@@ -0,0 +1,167 @@
+import type { Candle, Pair } from '../types';
+import { PAIRS } from '../types';
+import { aggregate4h, H4 } from '../market/aggregate';
+import { computeIndicators, evaluateAt, type StrategyParams } from '../strategy/donchian-trend';
+import { updateChandelier } from '../strategy/chandelier';
+import { sizePosition, type RiskConfig } from '../engine/sizing';
+import { Portfolio, type ClosedTrade, type ExecConfig, type Position } from '../engine/portfolio';
+
+export interface LiveState {
+  cash: number;
+  positions: Position[];
+  cursorTs: number; // ts der letzten verarbeiteten 15m-Candle
+}
+
+export interface CycleConfig {
+  risk: RiskConfig;
+  exec: ExecConfig;
+  params: StrategyParams;
+  maxPositions: number;
+}
+
+export interface Decision {
+  pair: Pair;
+  barTs: number; // Start der bewerteten 4h-Bar
+  signal: 'long' | null;
+  blockedBy: string | null;
+  close: number;
+  atr: number;
+  adx: number;
+  donchianHigh: number;
+  trendEma: number;
+}
+
+export interface EquitySnapshot {
+  ts: number; // 4h-Bucket
+  equity: number;
+  cash: number;
+}
+
+export interface CycleResult {
+  cash: number;
+  positions: Position[];
+  cursorTs: number;
+  closedTrades: ClosedTrade[];
+  decisions: Decision[];
+  equitySnapshots: EquitySnapshot[];
+  equity: number;
+}
+
+/**
+ * Verarbeitet alle 15m-Candles mit ts > cursor — identische Semantik wie der
+ * Backtest-Runner: 4h-Bars eines Pairs werden verarbeitet, sobald dessen erste
+ * 15m-Candle eines späteren Buckets eintrifft (Chandelier-Update → Entry-Eval),
+ * danach 15m-Stop-Check. Pure Funktion: gleicher Input → gleiches Ergebnis.
+ *
+ * candles15ByPair muss Warmup-Historie VOR dem Cursor enthalten (≥ trendEmaPeriod
+ * 4h-Bars), sonst blockiert insufficient_data.
+ */
+export function processCycle(
+  candles15ByPair: Map<Pair, Candle[]>,
+  state: LiveState,
+  cfg: CycleConfig,
+): CycleResult {
+  const portfolio = new Portfolio(state.cash, cfg.exec);
+  for (const pos of state.positions) portfolio.positions.set(pos.pair, { ...pos });
+
+  const decisions: Decision[] = [];
+  const equitySnapshots: EquitySnapshot[] = [];
+  const lastClose = new Map<Pair, number>();
+  const cursorBucket = Math.floor(state.cursorTs / H4) * H4;
+
+  const contexts = PAIRS.filter((p) => candles15ByPair.has(p)).map((pair) => {
+    const c15 = candles15ByPair.get(pair)!;
+    const c4h = aggregate4h(c15);
+    // 4h-Bars vor dem Cursor-Bucket gelten als in früheren Zyklen verarbeitet
+    let next4h = 0;
+    while (next4h < c4h.length && c4h[next4h].ts < cursorBucket) next4h++;
+    // lastClose mit der letzten Candle ≤ Cursor seeden (für Equity offener Positionen)
+    for (const c of c15) {
+      if (c.ts > state.cursorTs) break;
+      lastClose.set(pair, c.close);
+    }
+    return { pair, c4h, ind: computeIndicators(c4h, cfg.params), next4h };
+  });
+  const byPair = new Map(contexts.map((c) => [c.pair, c]));
+
+  const timeline: { ts: number; pair: Pair; candle: Candle }[] = [];
+  for (const ctx of contexts) {
+    for (const candle of candles15ByPair.get(ctx.pair)!) {
+      if (candle.ts > state.cursorTs) timeline.push({ ts: candle.ts, pair: ctx.pair, candle });
+    }
+  }
+  timeline.sort((a, b) => a.ts - b.ts || PAIRS.indexOf(a.pair) - PAIRS.indexOf(b.pair));
+
+  let cursorTs = state.cursorTs;
+  let lastEquityBucket = -1;
+
+  for (const { ts, pair, candle } of timeline) {
+    const ctx = byPair.get(pair)!;
+    const bucket = Math.floor(ts / H4) * H4;
+
+    // 1) Neu abgeschlossene 4h-Bars dieses Pairs
+    while (ctx.next4h < ctx.c4h.length && ctx.c4h[ctx.next4h].ts < bucket) {
+      const i = ctx.next4h++;
+      const bar = ctx.c4h[i];
+
+      const pos = portfolio.positions.get(pair);
+      if (pos) {
+        const next = updateChandelier(
+          { highestHigh: pos.trailExtreme, stop: pos.stop },
+          bar.high,
+          ctx.ind.atr[i],
+          cfg.params.atrMultiplier,
+        );
+        pos.trailExtreme = next.highestHigh;
+        pos.stop = next.stop;
+      }
+
+      const ev = evaluateAt(ctx.c4h, ctx.ind, i, cfg.params, false);
+      const signal = ev.signal === 'long' ? 'long' : null;
+      let blockedBy: string | null = ev.blockedBy;
+      if (portfolio.positions.has(pair)) {
+        blockedBy = 'position_open';
+      } else if (signal) {
+        if (portfolio.positions.size >= cfg.maxPositions) {
+          blockedBy = 'max_positions';
+        } else {
+          const initialStop = ev.close - cfg.params.atrMultiplier * ev.atr;
+          const equity = portfolio.equity(lastClose);
+          const s = sizePosition(equity, portfolio.cash, ev.close, initialStop, cfg.risk, 'long');
+          blockedBy = s.blockedBy;
+          if (!s.blockedBy) portfolio.open(pair, bar.ts + H4, ev.close, initialStop, s.qty, s.riskAmount, 'long');
+        }
+      }
+      decisions.push({
+        pair, barTs: bar.ts, signal, blockedBy,
+        close: ev.close, atr: ev.atr, adx: ev.adx, donchianHigh: ev.donchianHigh, trendEma: ev.trendEma,
+      });
+    }
+
+    // 2) Stop-Check auf der 15m-Candle (auch auf der Entry-Candle, wie im Runner)
+    const pos = portfolio.positions.get(pair);
+    if (pos && candle.low <= pos.stop) {
+      const exitPrice = candle.open < pos.stop ? candle.open : pos.stop; // Gap → schlechterer Fill
+      portfolio.close(pair, ts, exitPrice, 'trailing_stop');
+    }
+
+    lastClose.set(pair, candle.close);
+    cursorTs = Math.max(cursorTs, ts);
+
+    // 3) Equity-Punkt einmal pro 4h-Bucket
+    if (bucket !== lastEquityBucket) {
+      lastEquityBucket = bucket;
+      equitySnapshots.push({ ts: bucket, equity: portfolio.equity(lastClose), cash: portfolio.cash });
+    }
+  }
+
+  return {
+    cash: portfolio.cash,
+    positions: [...portfolio.positions.values()],
+    cursorTs,
+    closedTrades: portfolio.trades,
+    decisions,
+    equitySnapshots,
+    equity: portfolio.equity(lastClose),
+  };
+}
--- a/src/server/scripts/backfill.ts
+++ b/src/server/scripts/backfill.ts
@@ -4,7 +4,7 @@ import { insertCandles, getCoverage } from '../market/candle-store';
 import { sql } from '../db/client';

 const M15 = 15 * 60 * 1000;
-const TARGET_MONTHS = 14;
+const TARGET_MONTHS = 36;
 const since = Date.now() - TARGET_MONTHS * 30 * 24 * 60 * 60 * 1000;

 for (const pair of PAIRS) {
--- a/src/server/scripts/rotation-walkforward.ts
+++ b/src/server/scripts/rotation-walkforward.ts
@@ -0,0 +1,109 @@
+import { PAIRS, type Candle, type Pair } from '../types';
+import { getCandles, getCoverage } from '../market/candle-store';
+import { buildWindows, aggregateOos } from '../backtest/walkforward';
+import { runRotationBacktest, type RotationConfig } from '../backtest/rotation';
+import { computeMetrics } from '../backtest/metrics';
+import { DEFAULT_EXEC } from '../engine/portfolio';
+import { db, sql } from '../db/client';
+import { backtestRuns } from '../db/schema';
+
+// --- Feste A-priori-Parameter (kein Grid, kein Overfitting möglich) ---
+const LOOKBACK_BARS = 180; // 30 Tage × 6 Bars/Tag auf 4h-TF
+const START_CAPITAL = 1000;
+const EXEC = DEFAULT_EXEC;
+
+const candles15ByPair = new Map<Pair, Candle[]>();
+let dataFrom = 0;
+let dataTo = Number.MAX_SAFE_INTEGER;
+
+for (const pair of PAIRS) {
+  const cov = await getCoverage(pair);
+  if (!cov.from || !cov.to) throw new Error(`Keine Candles für ${pair} — erst 'bun run backfill' ausführen.`);
+  candles15ByPair.set(pair, await getCandles(pair));
+  dataFrom = Math.max(dataFrom, cov.from.getTime());
+  dataTo = Math.min(dataTo, cov.to.getTime());
+  console.log(`${pair}: ${cov.count} Candles (${cov.from.toISOString()} → ${cov.to.toISOString()})`);
+}
+
+console.log(`\nMomentum-Rotation (fix: lookback 30d, weekly, top-1, long-only)`);
+console.log(`Walk-Forward über ${((dataTo - dataFrom) / 86400000).toFixed(0)} Tage…\n`);
+
+const windows = buildWindows(dataFrom, dataTo);
+
+type WindowResult = {
+  window: { trainFrom: number; trainTo: number; testFrom: number; testTo: number };
+  trainMetrics: ReturnType<typeof computeMetrics>;
+  testMetrics: ReturnType<typeof computeMetrics>;
+  testTrades: import('../engine/portfolio').ClosedTrade[];
+  testEquityCurve: import('../backtest/metrics').EquityPoint[];
+};
+
+const results: WindowResult[] = [];
+
+for (const [wi, w] of windows.entries()) {
+  const trainCfg: RotationConfig = {
+    startCapital: START_CAPITAL,
+    exec: EXEC,
+    lookbackBars: LOOKBACK_BARS,
+    tradeFrom: w.trainFrom,
+    tradeTo: w.trainTo,
+  };
+  const testCfg: RotationConfig = {
+    startCapital: START_CAPITAL,
+    exec: EXEC,
+    lookbackBars: LOOKBACK_BARS,
+    tradeFrom: w.testFrom,
+    tradeTo: w.testTo,
+  };
+
+  const trainResult = runRotationBacktest(candles15ByPair, trainCfg);
+  const trainMetrics = computeMetrics(trainResult.trades, trainResult.equityCurve, START_CAPITAL);
+
+  const testResult = runRotationBacktest(candles15ByPair, testCfg);
+  const testMetrics = computeMetrics(testResult.trades, testResult.equityCurve, START_CAPITAL);
+
+  results.push({
+    window: w,
+    trainMetrics,
+    testMetrics,
+    testTrades: testResult.trades,
+    testEquityCurve: testResult.equityCurve,
+  });
+
+  console.log(
+    `Fenster ${wi + 1}/${windows.length}: Train-PF ${trainMetrics.profitFactor.toFixed(2)} ` +
+    `→ Test-PF ${testMetrics.profitFactor.toFixed(2)} bei ${testMetrics.trades} Trades`,
+  );
+}
+
+// OOS-Aggregat (gemeinsame Logik aus walkforward.ts)
+const { oosMetrics, oosEquityCurve, gate } = aggregateOos(results, START_CAPITAL);
+
+console.log('\n========== OOS-GESAMTERGEBNIS ==========');
+const m = oosMetrics;
+console.log(`Trades: ${m.trades} | WinRate: ${(m.winRate * 100).toFixed(1)}% | PF: ${m.profitFactor.toFixed(2)}`);
+console.log(`TotalPnl: ${m.totalPnl.toFixed(2)} USDT | MaxDD: ${(m.maxDrawdownPct * 100).toFixed(1)}% | AvgR: ${m.avgR.toFixed(2)}`);
+
+console.log('\n========== DEPLOY-GATE ==========');
+for (const c of gate.checks) {
+  console.log(`${c.pass ? '✅' : '❌'} ${c.name}: ${Number.isFinite(c.value) ? c.value.toFixed(2) : c.value}`);
+}
+console.log(`\n→ GATE ${gate.pass ? 'BESTANDEN' : 'NICHT BESTANDEN'}`);
+
+// Persistenz
+await db.insert(backtestRuns).values({
+  kind: 'rotation-walkforward',
+  config: { startCapital: START_CAPITAL, exec: EXEC, lookbackBars: LOOKBACK_BARS } as any,
+  result: {
+    gate,
+    oosMetrics,
+    oosEquityCurve,
+    windows: results.map((r) => ({
+      window: r.window,
+      trainMetrics: r.trainMetrics,
+      testMetrics: r.testMetrics,
+    })),
+  } as any,
+});
+console.log('Run in backtest_runs gespeichert.');
+await sql.end();
--- a/src/server/scripts/walkforward.ts
+++ b/src/server/scripts/walkforward.ts
@@ -1,6 +1,7 @@
 import { PAIRS, type Candle, type Pair } from '../types';
 import { getCandles, getCoverage } from '../market/candle-store';
 import { runWalkForward } from '../backtest/walkforward';
+import { DEFAULT_PARAMS } from '../strategy/donchian-trend';
 import { DEFAULT_RISK } from '../engine/sizing';
 import { DEFAULT_EXEC } from '../engine/portfolio';
 import { db, sql } from '../db/client';
@@ -19,10 +20,16 @@ for (const pair of PAIRS) {
  console.log(`${pair}: ${cov.count} Candles (${cov.from.toISOString()} → ${cov.to.toISOString()})`);
 }

-const baseCfg = { startCapital: 1000, risk: DEFAULT_RISK, exec: DEFAULT_EXEC, maxPositions: 4 };
+const allowShort = process.argv.includes('--shorts');
+// --fixed: keine Grid-Suche — fixe A-priori-Parameter (Spec-Defaults). Kein Overfitting
+// durch Parameterwahl möglich; Train-Metriken dienen nur noch der Ratio-Diagnose.
+const fixed = process.argv.includes('--fixed');
+const grid = fixed ? [DEFAULT_PARAMS] : undefined;
+const baseCfg = { startCapital: 1000, risk: DEFAULT_RISK, exec: DEFAULT_EXEC, maxPositions: 4, allowShort };
+console.log(`Shorts: ${allowShort ? 'AN' : 'AUS'} | Parameter: ${fixed ? 'FIX (Spec-Defaults)' : 'Grid-Suche'}`);
 console.log(`\nWalk-Forward über ${((dataTo - dataFrom) / 86400000).toFixed(0)} Tage…\n`);

-const result = runWalkForward(candles15ByPair, baseCfg, dataFrom, dataTo, (msg) => console.log(msg));
+const result = runWalkForward(candles15ByPair, baseCfg, dataFrom, dataTo, (msg) => console.log(msg), grid);

 console.log('\n========== OOS-GESAMTERGEBNIS ==========');
 const m = result.oosMetrics;
--- a/src/server/strategy/donchian-trend.test.ts
+++ b/src/server/strategy/donchian-trend.test.ts
@@ -2,7 +2,8 @@ import { expect, test } from 'bun:test';
 import type { Candle } from '../types';
 import { computeIndicators, evaluateAt, DEFAULT_PARAMS, type StrategyParams } from './donchian-trend';

-const P: StrategyParams = { donchianPeriod: 3, atrPeriod: 3, atrMultiplier: 3, trendEmaPeriod: 5 };
+// adxThreshold: 0 — neutralisiert den ADX-Filter in allen bestehenden Tests
+const P: StrategyParams = { donchianPeriod: 3, atrPeriod: 3, atrMultiplier: 3, trendEmaPeriod: 5, adxThreshold: 0 };

 function c(o: number, h: number, l: number, cl: number, ts = 0): Candle {
  return { ts, open: o, high: h, low: l, close: cl, volume: 1 };
@@ -19,17 +20,18 @@ function breakoutSeries(): Candle[] {

 test('Long-Signal bei Donchian-Breakout über Trend-EMA', () => {
  const c4h = breakoutSeries();
-  const ev = evaluateAt(c4h, computeIndicators(c4h, P), c4h.length - 1);
+  const ev = evaluateAt(c4h, computeIndicators(c4h, P), c4h.length - 1, P);
  expect(ev.signal).toBe('long');
  expect(ev.blockedBy).toBeNull();
  expect(ev.donchianHigh).toBe(17);
  expect(Number.isNaN(ev.atr)).toBe(false);
+  expect(Number.isNaN(ev.adx)).toBe(false); // ADX[7]=100 (starker Trend)
 });

 test('blockiert unter Donchian-High', () => {
  const c4h = breakoutSeries();
  c4h[c4h.length - 1].close = 16.9; // unter 17
-  const ev = evaluateAt(c4h, computeIndicators(c4h, P), c4h.length - 1);
+  const ev = evaluateAt(c4h, computeIndicators(c4h, P), c4h.length - 1, P);
  expect(ev.signal).toBeNull();
  expect(ev.blockedBy).toBe('below_donchian');
 });
@@ -46,19 +48,19 @@ test('blockiert unter Trend-EMA (Bärenmarkt-Filter)', () => {
  s.push(c(75, 76, 74, 75, 6));
  // Index 7: Donchian[7] = max(76,76,76) = 76, EMA5 ≈ 80, Close 77 > Donchian aber < EMA
  s.push(c(77, 80, 76, 77, 7));
-  const ev = evaluateAt(s, computeIndicators(s, P), s.length - 1);
+  const ev = evaluateAt(s, computeIndicators(s, P), s.length - 1, P);
  expect(ev.signal).toBeNull();
  expect(ev.blockedBy).toBe('below_trend_ema');
 });

 test('blockiert bei zu wenig Daten', () => {
  const c4h = breakoutSeries().slice(0, 4);
-  const ev = evaluateAt(c4h, computeIndicators(c4h, P), c4h.length - 1);
+  const ev = evaluateAt(c4h, computeIndicators(c4h, P), c4h.length - 1, P);
  expect(ev.blockedBy).toBe('insufficient_data');
 });

 test('DEFAULT_PARAMS entsprechen der Spec', () => {
-  expect(DEFAULT_PARAMS).toEqual({ donchianPeriod: 20, atrPeriod: 14, atrMultiplier: 3, trendEmaPeriod: 200 });
+  expect(DEFAULT_PARAMS).toEqual({ donchianPeriod: 20, atrPeriod: 14, atrMultiplier: 3, trendEmaPeriod: 200, adxThreshold: 20 });
 });

 /** Abwärtstrend, letzte Candle bricht unter das 3er-Tief aus. */
@@ -73,7 +75,7 @@ function breakdownSeries(): Candle[] {

 test('Short-Signal bei Donchian-Breakdown unter Trend-EMA (allowShort=true)', () => {
  const c4h = breakdownSeries();
-  const ev = evaluateAt(c4h, computeIndicators(c4h, P), c4h.length - 1, true);
+  const ev = evaluateAt(c4h, computeIndicators(c4h, P), c4h.length - 1, P, true);
  expect(ev.signal).toBe('short');
  expect(ev.blockedBy).toBeNull();
  expect(ev.donchianLow).toBe(13); // min(low[4..6]) = min(15,14,13) = 13
@@ -81,7 +83,7 @@ test('Short-Signal bei Donchian-Breakdown unter Trend-EMA (allowShort=true)', ()

 test('Gleiche Daten mit allowShort=false → kein Short, blockiert', () => {
  const c4h = breakdownSeries();
-  const ev = evaluateAt(c4h, computeIndicators(c4h, P), c4h.length - 1, false);
+  const ev = evaluateAt(c4h, computeIndicators(c4h, P), c4h.length - 1, P, false);
  expect(ev.signal).toBeNull();
  // close=11 <= donchianHigh (whatever it is) → below_donchian
  expect(ev.blockedBy).toBe('below_donchian');
@@ -122,9 +124,58 @@ test('Breakdown aber Close > EMA → kein Short (Aufwärtstrend-Filter)', () =>
  // 1 Candle: donchianLow[6] = min(low[3..5]) = 49, EMA5 ≈ 37 < 49
  // Close 45: < donchianLow(49) aber > EMA5(≈37) → kein Short
  t.push(c(45, 50, 44, 45, 6));
-  const ev = evaluateAt(t, computeIndicators(t, P), t.length - 1, true);
+  const ev = evaluateAt(t, computeIndicators(t, P), t.length - 1, P, true);
  // close(45) < donchianLow(49) aber close(45) > trendEma(≈37) → kein Short
  expect(ev.signal).toBeNull();
  expect(ev.donchianLow).toBe(49);
  expect(ev.trendEma).toBeLessThan(45); // EMA ist unter Close
 });
+
+// --- ADX-Filter-Tests ---
+//
+// Serie: 27 Zickzack-Candles (close ∈ {0,1}, high=close+0.5, low=close−0.5)
+// + 1 Breakout-Candle (index 27, close=2).
+// Params: atrPeriod=14 → ADX-Period=14 → erster valider ADX-Wert an Index 2×14−1=27.
+// ADX[27]=4.07 (deutlich unter 20): Zickzack-Historie hat keinen klaren Trend.
+// donchianPeriod=3 → donchianHigh[27]=max(high[24..26])=max(0.5,1.5,0.5)=1.5.
+// close=2 > donchianHigh=1.5 ✓ und close=2 > EMA5≈0.93 ✓ → Breakout vorhanden,
+// aber ADX=4.07 < threshold=20 → blockedBy='weak_trend'.
+
+function adxFilterSeries(): Candle[] {
+  const s: Candle[] = [];
+  // 27 Zickzack-Candles → ADX settled ~4 an Index 27 (dominiert von keiner Richtung)
+  // c(open, high, low, close, ts)
+  for (let i = 0; i < 27; i++) {
+    const cl = i % 2 === 0 ? 0 : 1;
+    s.push(c(cl, cl + 0.5, cl - 0.5, cl, i));
+  }
+  // Breakout-Candle: close=2 > donchianHigh(1.5) und > EMA5(0.93)
+  s.push(c(2, 2.5, 1.5, 2, 27));
+  return s;
+}
+
+// Hilfsfunktion mit dem passenden Param-Satz für ADX-Filter-Tests
+const P_ADX: StrategyParams = { donchianPeriod: 3, atrPeriod: 14, atrMultiplier: 3, trendEmaPeriod: 5, adxThreshold: 20 };
+
+test('ADX unter Schwelle → Breakout blockiert (weak_trend)', () => {
+  // ADX[27]≈4.07 < adxThreshold=20 → kein Long-Signal trotz Donchian-Breakout
+  const c4h = adxFilterSeries();
+  const ind = computeIndicators(c4h, P_ADX);
+  const ev = evaluateAt(c4h, ind, c4h.length - 1, P_ADX);
+  // Sanity: Breakout-Bedingungen sind erfüllt (ohne ADX-Filter wäre es 'long')
+  expect(ev.close).toBeGreaterThan(ev.donchianHigh);
+  expect(ev.close).toBeGreaterThan(ev.trendEma);
+  expect(ev.adx).toBeLessThan(20); // ADX≈4.07
+  expect(ev.signal).toBeNull();
+  expect(ev.blockedBy).toBe('weak_trend');
+});
+
+test('ADX-Filter deaktiviert (threshold=0) → gleicher Breakout ergibt Long-Signal', () => {
+  // Gleiche Serie, adxThreshold=0 → ADX-Filter immer passiert → 'long'
+  const c4h = adxFilterSeries();
+  const P_ZERO: StrategyParams = { ...P_ADX, adxThreshold: 0 };
+  const ind = computeIndicators(c4h, P_ZERO);
+  const ev = evaluateAt(c4h, ind, c4h.length - 1, P_ZERO);
+  expect(ev.signal).toBe('long');
+  expect(ev.blockedBy).toBeNull();
+});
--- a/src/server/strategy/donchian-trend.ts
+++ b/src/server/strategy/donchian-trend.ts
@@ -1,6 +1,7 @@
 import type { Candle } from '../types';
 import { ema } from '../indicators/ema';
 import { atr } from '../indicators/atr';
+import { adx } from '../indicators/adx';
 import { donchianHigh, donchianLow } from '../indicators/donchian';

 export interface StrategyParams {
@@ -8,6 +9,7 @@ export interface StrategyParams {
  atrPeriod: number;
  atrMultiplier: number;
  trendEmaPeriod: number;
+  adxThreshold: number;
 }

 export const DEFAULT_PARAMS: StrategyParams = {
@@ -15,6 +17,7 @@ export const DEFAULT_PARAMS: StrategyParams = {
  atrPeriod: 14,
  atrMultiplier: 3,
  trendEmaPeriod: 200,
+  adxThreshold: 20,
 };

 export interface IndicatorSet {
@@ -22,13 +25,15 @@ export interface IndicatorSet {
  donchianHigh: number[];
  donchianLow: number[];
  atr: number[];
+  adx: number[];
 }

 export interface Evaluation {
  signal: 'long' | 'short' | null;
-  blockedBy: 'insufficient_data' | 'below_donchian' | 'below_trend_ema' | null;
+  blockedBy: 'insufficient_data' | 'below_donchian' | 'below_trend_ema' | 'weak_trend' | null;
  close: number;
  atr: number;
+  adx: number;
  donchianHigh: number;
  donchianLow: number;
  trendEma: number;
@@ -41,14 +46,21 @@ export function computeIndicators(c4h: Candle[], p: StrategyParams): IndicatorSe
    donchianHigh: donchianHigh(c4h, p.donchianPeriod),
    donchianLow: donchianLow(c4h, p.donchianPeriod),
    atr: atr(c4h, p.atrPeriod),
+    adx: adx(c4h, p.atrPeriod),
  };
 }

 /** Bewertet die (abgeschlossene) 4h-Candle an Index i. */
-export function evaluateAt(c4h: Candle[], ind: IndicatorSet, i: number, allowShort = false): Evaluation {
+export function evaluateAt(
+  c4h: Candle[],
+  ind: IndicatorSet,
+  i: number,
+  p: { adxThreshold: number },
+  allowShort = false,
+): Evaluation {
  const close = c4h[i]?.close ?? NaN;
  const base = {
-    close, atr: ind.atr[i], donchianHigh: ind.donchianHigh[i],
+    close, atr: ind.atr[i], adx: ind.adx[i], donchianHigh: ind.donchianHigh[i],
    donchianLow: ind.donchianLow[i], trendEma: ind.trendEma[i],
  };
  if (
@@ -57,17 +69,20 @@ export function evaluateAt(c4h: Candle[], ind: IndicatorSet, i: number, allowSho
    Number.isNaN(ind.trendEma[i]) ||
    Number.isNaN(ind.donchianHigh[i]) ||
    Number.isNaN(ind.donchianLow[i]) ||
-    Number.isNaN(ind.atr[i])
+    Number.isNaN(ind.atr[i]) ||
+    Number.isNaN(ind.adx[i])
  ) {
    return { signal: null, blockedBy: 'insufficient_data', ...base };
  }
  if (close > ind.donchianHigh[i] && close > ind.trendEma[i]) {
+    if (ind.adx[i] < p.adxThreshold) return { signal: null, blockedBy: 'weak_trend', ...base };
    return { signal: 'long', blockedBy: null, ...base };
  }
  if (allowShort && close < ind.donchianLow[i] && close < ind.trendEma[i]) {
+    if (ind.adx[i] < p.adxThreshold) return { signal: null, blockedBy: 'weak_trend', ...base };
    return { signal: 'short', blockedBy: null, ...base };
  }
-  // Blocked reasons from the long perspective
+  // Blocked reasons from the long perspective (no breakout — ADX irrelevant here)
  if (close <= ind.donchianHigh[i]) return { signal: null, blockedBy: 'below_donchian', ...base };
  return { signal: null, blockedBy: 'below_trend_ema', ...base };
 }
Author	SHA1	Message	Date
Claude	29846e82a7	feat: Live-Paper-Engine — 5-min-Loop, API, Dashboard, Dockerfile processCycle spiegelt Runner-Semantik exakt (Paritätstest gegen runBacktest), Restart-Recovery über Cursor, DecisionLog mit Outcome-Backfill, Bun.serve-API + statisches Dashboard, Deploy-Ziel trading.kuns.dev. Co-Authored-By: Claude Fable 5 <noreply@anthropic.com>	2026-06-10 06:11:44 +00:00
Claude	c5d71bba74	feat: Schema für Live-Engine (positions, paper_trades, decision_logs, bot_state, equity_snapshots) Co-Authored-By: Claude Fable 5 <noreply@anthropic.com>	2026-06-10 06:11:44 +00:00
Claude	69a0a7bee3	docs: Design Live-Paper-Engine (Phase 3, Paper-Probelauf der besten Variante) Co-Authored-By: Claude Fable 5 <noreply@anthropic.com>	2026-06-10 06:11:44 +00:00
Claude	cd6553c170	docs: Walk-Forward-Ergebnisse aller 7 Varianten (Gate nicht bestanden) Co-Authored-By: Claude Fable 5 <noreply@anthropic.com>	2026-06-09 22:11:25 +00:00
Claude	29000a2bba	feat: Rotation-Walk-Forward-CLI (gemeinsame OOS-Aggregation extrahiert) aggregateOos() aus runWalkForward herausgezogen und exportiert; beide Walk-Forward-Varianten (Donchian + Rotation) nutzen dieselbe OOS-Logik. Neues Script rotation-walkforward.ts mit identischem Report-Format und Persistenz in backtest_runs (kind='rotation-walkforward'). package.json: "rotation"-Script ergänzt. Co-Authored-By: Claude Fable 5 <noreply@anthropic.com>	2026-06-09 22:09:22 +00:00
Claude	b7e81374f1	feat: Momentum-Rotation-Backtest (dual momentum, weekly, fixe Parameter) Neues Modul rotation.ts: wöchentliche Rotation über BTC/ETH/SOL/XRP_USDT auf 4h-Basis, Long-Only, top-1 Pair mit positivem 30-Tage-Momentum. 4 TDD-Tests (Leader-Selektion, Flip/Rotation, Cash-Modus, Determinismus). ClosedTrade.exitReason um 'rotation' erweitert. Co-Authored-By: Claude Fable 5 <noreply@anthropic.com>	2026-06-09 22:09:16 +00:00
Claude	8e838c4a66	feat: --fixed Flag — Walk-Forward ohne Grid-Suche (fixe Spec-Default-Parameter)	2026-06-09 22:03:31 +00:00
Claude	cdf5b133a9	feat: Backfill-Ziel auf 36 Monate erweitert	2026-06-09 21:48:23 +00:00
Claude	c07a34e671	feat: ADX-Trendstärke-Filter (fix 20, nicht im Grid) gegen Chop-Whipsaw Co-Authored-By: Claude Fable 5 <noreply@anthropic.com>	2026-06-09 21:46:57 +00:00
Claude	736db184ab	feat: Short-Seite im Runner + Walk-Forward-CLI (--shorts Flag) - BacktestConfig.allowShort: boolean (required, explizit) - Runner: Short-Entry (stop = close + mult×ATR), updateChandelierShort für Trail, Stop-Check auf High >= stop, Gap-Fill nach oben - Bestehende Runner-Tests: allowShort: false ergänzt (Verhalten byte-identisch) - Neuer E2E-Test: Short-Breakout → trailing_stop; Long-Only-Sanity-Check - walkforward.ts script: --shorts Flag, Ausgabe "Shorts: AN/AUS" - walkforward.test.ts: allowShort: false ergänzt Co-Authored-By: Claude Fable 5 <noreply@anthropic.com>	2026-06-09 21:33:58 +00:00