Coppock MetaTrader indicator | FREE Forex Trading Indicator
Coppock MetaTrader indicator is an implementation of Edward Coppock’s famous Coppock curve indicator, which he invented in 1962. The indicator identifies long-term buy and sell opportunities (it is traditionally used only for buying) by calculating the weighted moving average (with a period of 10) of the sum of two rates of change (with a period of 14 and 11). It is the traditional version. You can change the parameters of the basic indicators in this MetaTrader version. This Coppock indicator is compatible with both MT4 and MT5.
- ROC1Period (default = 14) — the period of the first Rate of Change in the sum.
- ROC2Period (default = 11) — the period of the second Rate of Change in the sum.
- MAPeriod (default = 10) — the period of the Moving Average of the sum.
- MAType (only in MT4) (default = 3 (WMA)) — the method of the Moving Average of the sum. It isn’t recommended to change it.
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The main strategy when trading using the Coppock indicator is to buy when the curve starts rising from a trough below zero and to sell when the curve starts falling from a top above zero. Small tops and troughs (compared with the surrounding) are disregarded. The indicator helps to capture the trends in their early stages. But don’t expect to enter on the actual maximums and minimums with it.
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