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This research uses the constituent stocks of the Taiwan 50 Index as the research object. The research period is from January 1,2017 to December 31, 2019. The data is used for transaction simulation backtesting and transaction costs. This study uses the XQ system to construct six technical analysis trading strategies, namely strategy 1（KD indicator + RSI indicator）,strategy 2 （CCI indicator + ATR indicator）, strategy 3 （MTM momentum indicator + ATR indicator）, strategy 4 （RSI indicator +CCI indicator）, strategy 5 （RSI indicator+ MTM momentum indicator）, strategy 6（ATR indicator +KD indicator）,and compares them with the Buy and Holding strategy to verify whether the 50 constituent stocks in Taiwan.
The empirical results are as follows：
1. The six technical analysis strategies are better than the buy-and-hold strategy.Among the six strategies in this study, strategy 2 （CCI indicator + ATR indicator） has the best performance; strategy 3 （MTM momentum indicator + ATR indicator） has the worst performance.
2. Displayed by the results of the One-Sample T Test. The operating performance of the six technical analysis strategies and the buy-and-hold strategy is significantly higher than that of the bank's one-year time deposit.
3. According to the results of the Paired-Samples T Test, the test time is between 2017 and 2021.In 2018, at the ∝=5% significant level, it shows that the six technical analysis strategies are not significantly better from the buy and hold strategy. Therefore, the efficiency market is tested for the sample in this study. Taiwan stock market is the weak efficiency market. In the other four years, at the ∝=5% significant level, it shows that the six technical analysis strategies are significantly better from the buy and hold strategy. Therefore, the efficiency market is tested for the sample in this study. Taiwan stock market is not the weak efficiency market.
Finally, this paper presents empirical results and suggestions and improvements, as a reference for future research.
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