CoppockHist - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

This indicator was created by E.Coppock and first used in the 1960s. It was first published in Barron's. This indicator was not created for some investment fund, but rather in response to the Anglican Church's long-term investment requirements.

Coppock(t) = EMA(w,t)[ROC(l,t) + ROC(s,t)]

This indicator is a moving average of the 10-month sum of the 14-month and 11-month ROC indicators. A signal to open a position appears after the indicator changes direction. You can also open a long position when the histogram crosses the zero level upwards and a short position when the histogram crosses the zero level downwards.

The authors of the "Encyclopedia of Technical Market Indicators" recommend using the 5-period exponential moving average with the Coppock indicator. If the EMA escapes the histogram downward, then you can sell, otherwise you can buy.

Input parameters:

 Input unit ROC1 period = 14 ; Input unit ROC2 period = 11 ; Input unit smoothing period = 3 ; // Signal line smoothing period
Input ENUM_MA_METHOD MA_Method_= Mode_SMA ; // Signal line averaging method
Enter Applied_price_ AppliedPrice=PRICE_CLOSE_; // Price constant

The indicator uses the СMoving_Average class of the SmoothAlgorithms.mqh library. How to use this class is described in detail in the article "Average price series for intermediate calculations without using additional buffers" .

The indicator was originally written in MQL4 and first published in the code base on June 3, 2015.

Attachment download

📎coppockhist.mq5 (7.03 KB)

📎 smoothalgorithms.mqh (130.19 KB)

Source: MQL5 #13156