Coppock Histogram
The Coppock Histogram, developed using Amibroker data feed, helps traders visualize changes in market momentum. Free data sources can be integrated with AFL code to create this indicator, which is particularly useful for detecting shifts in market sentiment and improving trading decisions.
_SECTION_BEGIN("Coppock");
/*
Coppock based on original formula of Coppock.
Mov(ROC(C,14,%) + ROC(C,11,%)10;
AFL by Bill Dodd
*/
GraphXSpace=1;
Param("EMA",10,2,100,1,0);
r1=ROC(C,14);
r2=ROC(C,11);
C=EMA((r1+r2),10);
Plot(IIf(C>0 AND ROC(C,1)>0,C,0),"",42,6); /* uptrend */
Plot(IIf(C>0 AND ROC(C,1)<0,C,0),"",32,6); /* up sideways */
Plot(IIf(C<0 AND ROC(C,1)>0,C,0),"",49,6); /* down sideways */
Plot(IIf(C<0 AND ROC(C,1)<0,C,0),"",29,6); /* down trend */
/*
dynamic_color = IIf (C >0, colorRed, colorGreen );
Plot(C,"", dynamic_color ,styleHistogram | styleThick );*/
_SECTION_END();