Thread: Coppock - VertexFX Indicator

The Coppock indicator is a powerful VertexFX client side VTL indicator to determine the duration of the trend and the change in direction of the trend. It gives excellent signals on larger timeframes - namely H4 and Daily charts.
The concept behind the Coppock indicator is that in trending markets, the rate of change gradually rises (or falls), and when the trend ends, it tops out or bottoms out accordingly, thus providing excellent trading opportunities.
In the first step we calculate the moving averages of the closing price for R1_PERIOD and R1_MODE, and R2_PERIOD and R2_MODE. The rate of change is calculated for each mode (R1 and R2), between the current moving average and the value R1_PERIOD and R2_PERIOD ago respectively. This value is converted to percentage if USE_PERCENT is set to true, or in points. Finally the sum of the both rates of change is calculated. The Coppock indicator is the moving average over MA_PERIOD of this sum.
BUY - Place Buy position when the indicator has bottomed out below zero level and is rising for at least 2 bars.

SELL - Place Sell position when the indicator has topped out above zero level and is falling for at least 2 bars.