Coppock Hist
This is a powerful addition to your MetaTrader 5 toolkit designed to optimize market analysis and performance. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Coppock Hist
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
Description & Settings
EarnForex.com
This indicator was created by E.Coppock and was first used back in 1960s. It was first published in Barron's magazine. The indicator wasn't created for some investment fund, but at the request of Episcopal Church for long-term investments.
Formula:
where:
EMA(w,t) — Exponential Moving Average by 'w' periods;
ROC(l,t) + ROC(s,t) — sum of price change rate indicators for l — long and s — short periods.
Trading:
This indicator is a Moving Average for 10-month sum of 14- and 11-month ROC indicators. A signal for opening a position appears after the indicator changes direction. You can also open long positions when the histogram crosses the zero level upwards, and short positions when downwards.
Input parameters:
Indicator uses the СMoving_Average class of the SmoothAlgorithms.mqh library. Working with that class was described in details in the article .
Originally this indicator has been written in MQL4 and was first published in the on 03.06.2015.
