- ROC1Period (normal value = 14): The period of the first exchange rate of the sum.
- ROC2Period (normal value = 11): The period of the second exchange rate of the sum.
- MAPeriod (normal value = 10): The period of the moving average of the sum.
- MAType (present only in Metatrader 4) (normal value = 3 (WMA)): The type of the moving average of the sum. The author recommends not modify it.
The custom indicator Coppock for Metatrader is a development based on the famous Coppock curve, an indicator created in 1962 by Edward Coppock. It can be used to show clear buy and sell opportunities at the long term (traditionally this indicator has been used for long trades) by calculating the weighted moving average of 10 periods of the sum of two exchange rates which are usually calculated based on a period of 14 and 11 respectively.
In this version for Metatrader, the trader can change all parameters of the core indicators. To use properly this indicator, the trader can apply the following principles:
- Buy when the curve is very deep below the level 0 and begins to rise.
- Sell when the curve is at the top above the level 0 and begins to fall.
- The minor highs and lows in the indicator´s curve should not be taken into account as these are not reliable signals.
In general, this indicator helps to capture trends in its early stages. However, the trader should not expect to enter the market precisely at the minimum or the maximum of each trend using this indicator.
You can download this indicator for Metatrader 4 and 5 using the following link: