Thanks kankan. I think you're right about using split-adjusted only.

I'm not concern about a bit more pessimistic backtest results. I'm more concerned about which dataset produces results similar to real life. I would like the extra 25% profit, but I don't think it'll happen in live trading simply because dividend adjust closed are not on the tape before the market closes whem my script does its thing.

I think dividends-adj prices can and will produce false trading signals for indicators are price based.

Thanks for helping me think this through.

If others disagree, I'd like to hear your thoughts.