“A must-read for serious investors, this book brings scientific rigor to trend following. The authors cut through the noise with a systematic, research-backed approach to moving averages. An invaluable resource for practitioners and academics alike.”
—Wesley R. Gray, Ph.D., CEO of Alpha Architect 

“In The Ultimate Moving Average Handbook, Zakamulin and Giner employ academic rigor to transform the art of trend following into a science. By challenging conventional thought and exposing the myths surrounding so-called superior moving averages, they provide traders and researchers with an objective, data-driven framework for evaluating and optimizing trend-based trading rules. This book should serve as a guidepost for making more informed investment decisions. It is an essential read for anyone serious about systematic investing and technical analysis.” 

—Gary Antonacci, author of Dual Momentum Investing: An Innovative Strategy for Higher Returns with Lower Risk 

“While claiming to be academic, this book provides a fountain of information for trend followers with techniques that have been overlooked. I was particularly interested in the zero-lag models and the calculation frequency.  It is remarkably readable and a great achievement.”

—Perry Kaufman, author of the classic Trading Systems and Methods book 

“This book is a tour de force that extends and accelerates the important trend in technical analysis toward scientific rigor and empirical evidence. Moving averages—one of the field’s key tools—are covered in all their forms and from every angle, making this required reading for every serious technical analyst. Most importantly, moving averages are evaluated within a rules-based framework—an important and highly pragmatic approach to the subject.”

—David Aronson, author of Evidence-Based Technical Analysis book 

“In an era dominated by AI, writing a book about the humble moving average is nothing short of audacious. But here’s why it matters: MA-driven investment strategies consistently deliver rock-solid out-of-sample results—frequently outpacing AI-powered approaches. And here’s the secret: many systematic fund managers quietly agree. While MAs may seem simple, this book goes beyond the surface, digging deep and leaving no stone unturned. If systematic trading is your game, consider this your goldmine of insights—packed with fresh ideas to supercharge your strategies.”

—Dr Tom Starke, Founder of AAAQuants 

Valeriy Zakamulin is a Finance Professor at the University of Agder, Norway, whose research focuses on asset pricing, portfolio management, and technical trading strategies.

Javier Giner is a Senior Lecturer in Financial Economics at the University of La Laguna, Spain, with research spanning quantitative methods in both acoustics and finance.

“A must-read for serious investors, this book brings scientific rigor to trend following. The authors cut through the noise with a systematic, research-backed approach to moving averages. An invaluable resource for practitioners and academics alike.” (Wesley R. Gray, Ph.D., CEO of Alpha Architect)

“In The Ultimate Moving Average Handbook, Zakamulin and Giner employ academic rigor to transform the art of trend following into a science. By challenging conventional thought and exposing the myths surrounding so-called superior moving averages, they provide traders and researchers with an objective, data-driven framework for evaluating and optimizing trend-based trading rules. This book should serve as a guidepost for making more informed investment decisions. It is an essential read for anyone serious about systematic investing and technical analysis.” (Gary Antonacci, author of “Dual Momentum Investing: An Innovative Strategy for Higher Returns with Lower Risk”)

“While claiming to be academic, this book provides a fountain of information for trend followers with techniques that have been overlooked. I was particularly interested in the zero-lag models and the calculation frequency.  It is remarkably readable and a great achievement.” (Perry Kaufman, author of the classic “Trading Systems and Methods” book)

“This book is a tour de force that extends and accelerates the important trend in technical analysis toward scientific rigor and empirical evidence. Moving averages—one of the field’s key tools—are covered in all their forms and from every angle, making this required reading for every serious technical analyst. Most importantly, moving averages are evaluated within a rules-based framework—an important and highly pragmatic approach to the subject.” (David Aronson, author of “Evidence-Based Technical Analysis” book)

“In an era dominated by AI, writing a book about the humble moving average is nothing short of audacious. But here’s why it matters: MA-driven investment strategies consistently deliver rock-solid out-of-sample results—frequently outpacing AI-powered approaches. And here’s the secret: many systematic fund managers quietly agree. While MAs may seem simple, this book goes beyond the surface, digging deep and leaving no stone unturned. If systematic trading is your game, consider this your goldmine of insights—packed with fresh ideas to supercharge your strategies.” (Dr Tom Starke, Founder of AAAQuants)