TraderLeibniz

Coppock Unchanged


An implementation of the "Coppock Unchanged" plot concept by Tom McClellan.

Simply put, assume that for each bar, an alternative close creates a Coppock Plot that is unchanged, i.e. a close that generates a flat coppock curve.

This coppock unchanged plot can be used to:
1) identify a start of a trend on a long timescale (monthly) when the price goes above the coppock unchanged plot after a major correction
2) potentially identify an end of a trend when the prices goes below the coppock unchanged plot

See Tom McClellan's article 'Coppock Curve Still Working On a Major Bottom Signal' for a full explanation...

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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