Is there any algorithm to calculate highest possible return on a stock market? I don't mean the algorithm which trades without mistakes - it's nearly impossible. What I'm searching for is a formula to calculate how much one can gain if he or she would have perfect timing on a stock market. Something which can give us point of reference for effectiveness of our trading strategies.
No leverage, no options, just plain buying and selling stocks of particular company on any possible market. It's not question about strategy, it's a question about calculating highest possible return if we always buy on the lowest price and sell on the highest (taking into account some granularity).