Romanian Journal of Economic Forecasting • Volume 29, Issue 2, Pages 163-179 • August 2026

OPTIMIZING ALGORITHMIC TRADING STRATEGIES FOR EMERGING MARKETS: EVIDENCE FROM ESG-FOCUSED STOCKS IN BORSA ISTANBUL

Çağdaş GÜNDÜZ1
1 Pamukkale University, Faculty of Applied Sciences, Denizli, Türkiye;
Fatih AKKOYUN2
2 İzmir Demokrasi University, Faculty of Engineering, İzmir, Türkiye.
Persistent Identifier (DOI): https://doi.org/10.55991/j.rjef.93561

Abstract

Today, algorithmic trading (AT) plays a crucial role in financial forecasting. This study explores AT strategies for an emerging market, Borsa İstanbul (BIST). Analyzing Environmental, Social, and Governance (ESG)-focused stocks from the BIST Sustainability Index, a robotic trading algorithm implemented in C# optimizes trading parameters for return. Key technical indicators; Relative Strength Index (RSI) and Simple Moving Average (SMA) evaluate trends and improve decisions. Results show longer timeframes achieve higher profitability, while shorter intervals face volatility. The study underlines the potential of tailored AT strategies in emerging markets, offering insights for small investors to manage risk and return. Findings emphasize the role of local market dynamics in building robust, algorithm-driven trading solutions.

How to Cite

To cite this article, select a layout configuration: