This indicator was created by Edward Coppock in 1962. It displays the long term possibilities to buy or sell (in the original, only to buy) by changing a 10-period weighed Moving Average measuring a 10-period weighed Moving Average of two levels amounts (with periods of 14 and 11). It is the classic version. In this version of MetaTrader platform you can change the basic indicators parameters and the algorithm of averaging histogram.
The main strategy of trading with the Coppock indicator is to buy when the histogram starts to rise from the depths below zero, and sell when the curve starts to fall from the peak above zero. Small peaks and drawdowns (compared with others) are ignored. The indicator helps to enter the trend at an early stage. But do not try to enter the most maximum or minimum with it!
This indicator was first implemented in MQL4 and published in Code Base on 31.08.2008.
The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article “Averaging price series for intermediate calculations without using additional buffers”.
MT5 Indicator – Download Instructions
ColorCoppock is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
ColorCoppock provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install ColorCoppock.mq5?
- Download ColorCoppock.mq5
- Copy ColorCoppock.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on ColorCoppock.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator ColorCoppock.mq5 is available on your Chart
How to remove ColorCoppock.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator: