To me, this still suggests that the drawdown is linked to the prior run up, exclusively. I don't think you can make this assumption. The only way that it can be linked is if the market type changes, e.g. from quiet bull to volatile bear. And that change happens a few times in the backtest period. Generally mechanical trading does not take into account these types of market type changes, or is not good at it. I won't go into the theory as I understand, but it's a Van Tharp concept.

OR, maybe you want to normalise the drawdowns in that case of using a compounding / profit reinvesting feature. Generally a backtest is best done one a none compounding basis. Later, when you are satisfied that it is profitable and robust, you can play with the position sizing strategy to determine how best to compound the result.