Coppock Trade Signal

Based on Edwin Sedgwick Coppock’s original work to generate Buy and Sell signals. All the parameters are, however, adjustable including the Coppock Filter to filter out the market noise.

_SECTION_BEGIN(“Coppock Trade Signal v1.1”);
//PARAMETERS:
ROC1Periods =Param(“ROC1 periods”,14,2,200,1,0);
ROC2Periods =Param(“ROC2 periods”,11,2,200,1,0);
WMAPeriods =Param(“WMA periods”,10,2,200,1,0);
CoppockCurve =ParamToggle(“Use Coppock curve”,”No|Yes”,0);
CoppockBar =ParamToggle(“Use Coppock bar”,”No|Yes”,1);
ColBull =ParamColor(“Bull color”,colorBlue);
ColBear =ParamColor(“Bear color”,colorRed);
UseTradeSignal =ParamToggle(“Use trade signal”,”No|Yes”,1);
CoppockFilter =Param(“Coppock filter”,20,2,200,1,0);
ColBuy =ParamColor(“Buy color”,colorBrightGreen);
ColSell =ParamColor(“Sell color”,colorDarkRed);
ColBg =ParamToggle(“Show background color”,”No|Yes”,1);
//MAIN:
Coppock=WMA((ROC(C,ROC1Periods)+ROC(C,ROC2Periods)),WMAPeriods);
InitialCalculationLength=Max(ROC1Periods,ROC2Periods)+WMAPeriods;
for(i=0;i0,IIf(Coppock>LastCoppock1,ColBull,IIf(CoppockLastCoppock2,ColBull,ColBear))),
IIf(Coppock>LastCoppock1,ColBull,IIf(CoppockLastCoppock2,ColBull,ColBear))));
StyleTitle=IIf(CoppockCurve && CoppockBar,styleNoTitle,0);
StyleLabel=IIf(CoppockCurve && CoppockBar,styleNoLabel,0);
if(CoppockCurve)
Plot(Coppock,”Coppock”+_PARAM_VALUES(),TradeStatus,styleLine|styleThick|StyleTitle|StyleLabel);
if(CoppockBar)
Plot(Coppock,”Coppock”+_PARAM_VALUES(),TradeStatus,styleHistogram|styleThick);
if(UseTradeSignal)
{
CoppockIsBuy=TradeStatus==ColBull;
CoppockIsSell=TradeStatus==ColBear;
CoppockBuyValue=ValueWhen(CoppockIsBuy,Coppock,1);
CoppockSellValue=ValueWhen(CoppockIsSell,Coppock,1);
Buy=!Ref(CoppockIsBuy,-1) && Coppock<0 && CoppockIsBuy && abs(CoppockBuyValue)>=CoppockFilter;
Sell=!Ref(CoppockIsSell,-1) && Coppock>0 && CoppockIsSell &&
abs(CoppockSellValue)>=CoppockFilter;
PlotShapes(IIf(Buy,shapeUpArrow,shapeNone),ColBuy,0,Coppock,0);
PlotShapes(IIf(Sell,shapeDownArrow,shapeNone),ColSell,0,Coppock,0);
}
if(ColBg)
SetChartBkGradientFill(ParamColor(“BgTop”,colorWhite),ParamColor(“BgBottom”,colorTeal));
_SECTION_END();