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Table 5 Best pairs of Moving Averages considering the combination SMA vs SMA

From: Examination of the profitability of technical analysis based on moving average strategies in BRICS

Countries Brokerage
No Transaction Costs 0.50% 2%
Brazil. Short: [5; 15] Short: [10; 16] Short: [10; 24]
Long: [80; 117] Long: [80; 115] Long: [90; 110]
Russia. Short: [5; 8] Short: [5; 8] Short: [20; 28]
Long: [80; 85] Long: [80; 85] Long: [90; 98]
India. Short: [5; 10] Short: [5; 15] Short: [30; 37]
Long: [80; 105] Long: [80; 115] Long: [110; 120]
China. Short: [32; 40] Short: [31; 40] Short: [31; 40]
Long: [90; 112] Long: [99; 115] Long: [102; 120]
South Africa. Short: [15; 17], [37; 40] Short: [36; 40] Short: [37; 40]
Long: [115; 120] Long: [116; 120] Long: [116; 120]