{
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  "period_start_utc": "2025-09-25T06:00:00Z",
  "period_end_exclusive_utc": "2026-09-25T06:00:00Z",
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  "fee_bps_per_fill": 5,
  "adverse_slippage_bps_per_fill": 2,
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  "limitations": [
    "EMA9/EMA21 measures different calendar spans on different bar sizes; this does not isolate timeframe as a causal treatment.",
    "A single BTC year and one authored rule cannot identify a universal best timeframe.",
    "Retrospective archived candles are not original point-in-time model decisions or exchange fills.",
    "Buy-and-hold is fully invested and is not a fair equal-exposure benchmark."
  ]
}