Coppock Indicator for MT4/MT5/cTrader

Coppock indicator for MT4/MT5/cTrader — is an implementation of the famous Coppock curve indicator first created by Edward Coppock in 1962. The indicator shows long-term buy and sell opportunities (classically, it is used for only buying) by measuring the weighted moving average (with a period of 10) of the sum of two rates of change (with a period of 14 and 11). Here, you can modify the parameters of the basic indicators. This Coppock indicator is available for MT4, MT5, and cTrader.

This version of Coppock indicator supports multi-timeframe operation (it can display higher timeframe values on a lower timeframe chart) and all types of alerts.

Input parameters

• Timeframe: the timeframe for the indicator's calculations. If higher than the current, the indicator will work in an MTF mode. If equal or lower than the current, it will use the current timeframe's data.
• 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 (default = LWMA) — the method of the moving average calculation.
• Strict signals: if true, down signals will only be generated when the indicator is above zero, while up signals will be generated only when the indicator is below zero.
• Trigger Candle: the candle to issue alerts on: Previous — the most recently closed candle or Current — the yet unfinished candle.
• EnableNativeAlerts: if true, a native MetaTrader popup alert will be used when a signal is generated.
• EnableEmailAlerts: if true, an email message will be sent when a signal is generated. Email should be properly configured in MetaTrader via Tools->Options->Email.
• EnablePushAlerts: if true, an email message will be sent when a signal is generated. Notifications should be properly configured in MetaTrader via Tools->Options->Notifications.
• EnableSoundAlerts: if true, the given sound file will be played when a signal is generated.
• Draw Signal Arrows: if true, the indicator will draw arrows on the chart when there is an up or down signal.

Example

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 at the actual maximum or minimum with it.