Coppock Forex Indicator is an upgraded version of the popular Coppock Curve indicator, first developed by Edward Coppock in 1962. After about 57 years since its establishment, this indicator is still famous among the trend-following day traders around the world. The specialty of this trading indicator is, it demonstrates the trade signal in a simple manner and supplies quality trade signals carrying a greater probability of success at the same time.
Coppock Forex Indicator can be applied to trade all kinds of forex currency pairs available around the financial markets. Besides, it suits all sorts of timeframe charts within the forex MT4 platforms.
Coppock Forex Indicator Overview
Download and install the Forex Indicator at the MT4 terminal. Once you’re done, load it and find your trading chart like the following image
Coppock Forex Indicator Explanation
Coppock Forex Indicator uses a 10-day period of weighed Moving Average for identifying the long-term buying and selling pressures. It also uses the sum of two rates of change (periods of 11 and 14) for detecting potential short-term swing areas of the market. All these calculations are done in the background and you’ll only need to keep an eye on the current value of the indicator. The value is positive means the momentum is bullish and a negative value represents the bearish momentum of the market.
Coppock Indicator: Buy Rules
- A bullish bar is formed at the bottom area of the chart
- The indicator value turns positive at the same time
- Buy triggers after the above conditions are met
- Set stop loss below the current low of the market
- Exit long/take profit whenever the indicator value turns into negative
Coppock Indicator: Sell Rules
- A bearish bar is formed at the top of the chart
- The indicator value turns negative at the same time
- Sell triggers after the above conditions are met
- Set stop loss above the current high of the market
- Exit short/take profit whenever the indicator value turns into positive