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

Real author:

This indicator was created by Edward Coppock in 1962. It shows the long-term likelihood of buying or selling (initially only buying) by measuring the 10-period weighted moving average of two levels of amounts (periods 14 and 11) by changing the 10-period weighted moving average. This is the classic version. In this version of the MetaTrader platform you can change the basic indicator parameters and the average histogram algorithm.

The main strategy for trading with the Coppock indicator is to buy when the histogram starts to rise from depths below zero and sell when the curve starts to fall from its peak above zero. Small peaks and dips (compared to others) are ignored. This indicator helps get into trends early. But don't try to use it to enter a maximum or minimum!

The indicator was first implemented in MQL4 and released in the code base on August 31, 2008.

The indicator uses the SmoothAlgorithms.mqh library class (must be copied to terminal_data_folder\MQL5\Include). The use of the class "Average price series for intermediate calculations without using additional buffers" is described in detail in the article.

Figure 1 ColorCoppock indicator

Attachment download

📎 colorcoppock.mq5 (8.25 KB)

📎 smoothalgorithms.mqh (134.03 KB)

Source: MQL5 #1442