Repaints Coppock Curve Indicator for ThinkorSwim

[BenTen]

Coppock Curve is a momentum indicator designed for long term trend trading. By default, it will show buy signals only on the weekly charts.

#
# Copyright 2016 Scott J. Johnson (https://scottjjohnson.com)
#
# Licensed under the Apache License, Version 2.0 (the "License");
# you may not use this file except in compliance with the License.
# You may obtain a copy of the License at
#
#      http://www.apache.org/licenses/LICENSE-2.0
#
# Unless required by applicable law or agreed to in writing, software
# distributed under the License is distributed on an "AS-IS" BASIS,
# WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
# See the License for the specific language governing permissions and
# limitations under the License.
#

#
# CoppockIndicator
#
# Charts the Coppock Indicator described here:
#             https://en.wikipedia.org/wiki/Coppock_curve
#
# The Coppock can be used (along with other indicators like the Eureka Signal
# and IBD6000 %Es) to identify points where the stock market trend changes
# from down to up. The Coppock does not identify the beginning of downtrends.
#
# This study is designed to be applied to a major market index (e.g., SPX or
# COMP) with an aggregation period of weeks or months.
#
declare lower;

input RateOfChangeSlowPeriod = 14;
input RateOfChangeFastPeriod = 11;
input WeightedMAPeriod = 10;

def AggregationPeriod = if (getAggregationPeriod() < AggregationPeriod.WEEK) then AggregationPeriod.WEEK else getAggregationPeriod();

def price = close(period = AggregationPeriod);

def ROC1 = if price[RateOfChangeSlowPeriod]!=0 then (price/price[RateOfChangeSlowPeriod]-1)*100 else 0;
def ROC2 = if price[RateOfChangeFastPeriod]!=0 then (price/price[RateOfChangeFastPeriod]-1)*100 else 0;

plot Coppock = WMA(ROC1 + ROC2, WeightedMAPeriod);

Coppock.assignValueColor(if Coppock>Coppock[1] then color.green else color.red);
Coppock.SetDefaultColor(GetColor(1));
Coppock.setLineWeight(2);
Coppock.HideBubble();

plot ZeroLine = 0;

ZeroLine.SetDefaultColor(color.white);
ZeroLine.HideBubble();

AddChartBubble(Coppock[1] < 0 and Coppock > Coppock[1] and Coppock[1] < Coppock[2], Coppock, "Buy", Color.CYAN, no);

 

[BenTen]

Here is another long term trading indicator called Big Hand. The Big Hand indicator will let you know the beginning of a downtrend and also the beginning of an uptrend (indicated by arrow up and arrow down). It should should be run on SPY WEEKLY Chart.

#  Big_Hand_Arrows_On_Study_w_Agg
#  Use on Weekly Chart
#  Script by Waylock
# AlphaInvestor - 05/12/2017 - force to weekly aggregation

declare lower;

input agg = AggregationPeriod.WEEK;
# Hide Study Name and Inputs
# Add this to hide the text on the title bar
plot Scriptlabel = Double.NaN;
Scriptlabel.SetDefaultColor(CreateColor ( 6, 0, 48 ));
input fastLength = 19;
input slowLength = 39;
def c = close(period = agg);
plot Value = ExpAverage(c, fastLength) - ExpAverage(c, slowLength);
def Value_color = if Value > 0 then yes else no;
Value.DefineColor( "ValueUp", Color.GREEN );
Value.DefineColor( "ValueDn", Color.RED );
Value.AssignValueColor( if Value_color then Value.Color( "ValueUp" ) else Value.Color( "ValueDn" ) );
plot ZeroLine = 0;
Value.SetDefaultColor(Color.CYAN);
ZeroLine.SetDefaultColor(Color.YELLOW);
ZeroLine.HideTitle();
ZeroLine.HideBubble();
def xUndr = Value[1] < 0 and Value > 0;
def xOver = Value[1] > 0 and Value < 0;
plot ArrowUp = if xUndr then xOver else Double.NaN;
ArrowUp.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
ArrowUp.SetDefaultColor(Color.YELLOW);
ArrowUp.SetLineWeight(5);
ArrowUp.HideTitle();
ArrowUp.HideBubble();
plot ArrowDn = if xOver then xUndr else Double.NaN;
ArrowDn.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);
ArrowDn.SetDefaultColor(Color.YELLOW);
ArrowDn.SetLineWeight(5);
ArrowDn.HideTitle();
ArrowDn.HideBubble();
# Make Label on Study panel to show the value of the Big Hand
def data = Value;
AddLabel(yes, "Big Hand   " + Round(data, 2), if data > 0 then Color.GREEN else Color.RED);
AddLabel(yes, "Big Hand should be run on SPY WEEKLY Chart", Color.GRAY);
# End Study

# Example 1: Amazon

Let's use Amazon as an example. The last time we got a Buy signal from the Coppock indicator was October 9th, 2017. Closing price was $1002.94. Fast forward to October 23rd, we saw a $98 jump in price (in less than a month).

# Example 2: SPY

With SPY, the last time we got a Buy signal from the Coppock indicator was May 7th of this year. Closing price was $272.85. Shortly a month after, we saw a $5 jump in price.

I'll be taking a look at some of the signals given by the Big Hand indicator on SPY as well. In late September 2015 and early 2016, we saw a few uptrend and downtrend signals.

SPY opened at $195ish. Less than a month later, its lowest was 186ish. We can also see how the Coppock and Big Hand indicators correlate with each other at some events.

It's important to note that there is currently a downtrend signal on SPY, given by the Big Hand indicator.

Give these 2 indicators some backtesting and you should see a clear picture. Looking at historical data, we should see a Buy signal from the Coppock and an uptrend signal from the Big Hand indicator pretty soon. How I'm going to approach this strategy is fairly simple. Look through some historical data, see how much a stock usually jump after they were given a Buy signal and how long it took them. I'd say usually 1-2 months.

 

[ramblers926]

I have just hacked together a version of the Coppock scan based on the indicator code from Ben. It appears to be working, feel free to check it out and let me know if you come across issues. Note: Please make sure the aggregation period is set to Weekly or higher.

Thinkscript Code

input RateOfChangeSlowPeriod = 14;
input RateOfChangeFastPeriod = 11;
input WeightedMAPeriod = 10;

def price = close;

def ROC1 = if price[RateOfChangeSlowPeriod]!=0 then (price/price[RateOfChangeSlowPeriod]-1)*100 else 0;
def ROC2 = if price[RateOfChangeFastPeriod]!=0 then (price/price[RateOfChangeFastPeriod]-1)*100 else 0;

def Coppock = WMA(ROC1 + ROC2, WeightedMAPeriod);

plot result = Coppock[1] < 0 and Coppock > Coppock[1] and Coppock[1] < Coppock[2];

 

[markos]

What you have created with a "monthly" type indicator is really cool. I may be able to adapt that to my time frames.

Thanks!

 

[samiranadhikari]

Can you help to create a watch list indicating buy signal generated by Coppock curve indicator (counting days after the signal)?

declare lower;

input RateOfChangeSlowPeriod = 14;
input RateOfChangeFastPeriod = 11;
input WeightedMAPeriod = 10;

def AggregationPeriod = if (getAggregationPeriod() < AggregationPeriod.FIFTEEN_MIN) then AggregationPeriod.FIFTEEN_MIN else getAggregationPeriod();

def price = close(period = AggregationPeriod);

def ROC1 = if price[RateOfChangeSlowPeriod]!=0 then (price/price[RateOfChangeSlowPeriod]-1)*100 else 0;
def ROC2 = if price[RateOfChangeFastPeriod]!=0 then (price/price[RateOfChangeFastPeriod]-1)*100 else 0;

plot Coppock = WMA(ROC1 + ROC2, WeightedMAPeriod);

Coppock.assignValueColor(if Coppock>Coppock[1] then color.green else color.red);
Coppock.SetDefaultColor(GetColor(1));
Coppock.setLineWeight(2);
Coppock.HideBubble();

plot ZeroLine = 0;

ZeroLine.SetDefaultColor(color.white);
ZeroLine.HideBubble();

AddChartBubble(Coppock[1] < 0 and Coppock > Coppock[1] and Coppock[1] < Coppock[2], Coppock, "Buy", Color.CYAN, no);

 

[MerryDay]

Coppock Watch List
Please refer any questions on how to trade this indicator to: @samiranadhikari
Shared Link: http://tos.mx/BQQf7lM
Click here for --> Easiest way to load shared links

input RateOfChangeSlowPeriod = 14;
input RateOfChangeFastPeriod = 11;
input WeightedMAPeriod = 10;
def price = close ;
def ROC1 = if price[RateOfChangeSlowPeriod]!=0 then (price/price[RateOfChangeSlowPeriod]-1)*100 else 0;
def ROC2 = if price[RateOfChangeFastPeriod]!=0 then (price/price[RateOfChangeFastPeriod]-1)*100 else 0;

plot Coppock = WMA(ROC1 + ROC2, WeightedMAPeriod);

AssignBackgroundColor(
if Coppock[1] < 0 and Coppock > Coppock[1] and Coppock[1] < Coppock[2] then color.cyan else color.violet);

 

[eagle_ai]

Coppock Curve is a momentum indicator designed for long term trend trading. By default, it will show buy signals only on the weekly charts.

#
# Copyright 2016 Scott J. Johnson (https://scottjjohnson.com)
#
# Licensed under the Apache License, Version 2.0 (the "License");
# you may not use this file except in compliance with the License.
# You may obtain a copy of the License at
#
#      http://www.apache.org/licenses/LICENSE-2.0
#
# Unless required by applicable law or agreed to in writing, software
# distributed under the License is distributed on an "AS-IS" BASIS,
# WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
# See the License for the specific language governing permissions and
# limitations under the License.
#

#
# CoppockIndicator
#
# Charts the Coppock Indicator described here:
#             https://en.wikipedia.org/wiki/Coppock_curve
#
# The Coppock can be used (along with other indicators like the Eureka Signal
# and IBD6000 %Es) to identify points where the stock market trend changes
# from down to up. The Coppock does not identify the beginning of downtrends.
#
# This study is designed to be applied to a major market index (e.g., SPX or
# COMP) with an aggregation period of weeks or months.
#
declare lower;

input RateOfChangeSlowPeriod = 14;
input RateOfChangeFastPeriod = 11;
input WeightedMAPeriod = 10;

def AggregationPeriod = if (getAggregationPeriod() < AggregationPeriod.WEEK) then AggregationPeriod.WEEK else getAggregationPeriod();

def price = close(period = AggregationPeriod);

def ROC1 = if price[RateOfChangeSlowPeriod]!=0 then (price/price[RateOfChangeSlowPeriod]-1)*100 else 0;
def ROC2 = if price[RateOfChangeFastPeriod]!=0 then (price/price[RateOfChangeFastPeriod]-1)*100 else 0;

plot Coppock = WMA(ROC1 + ROC2, WeightedMAPeriod);

Coppock.assignValueColor(if Coppock>Coppock[1] then color.green else color.red);
Coppock.SetDefaultColor(GetColor(1));
Coppock.setLineWeight(2);
Coppock.HideBubble();

plot ZeroLine = 0;

ZeroLine.SetDefaultColor(color.white);
ZeroLine.HideBubble();

AddChartBubble(Coppock[1] < 0 and Coppock > Coppock[1] and Coppock[1] < Coppock[2], Coppock, "Buy", Color.CYAN, no);

Hi @BenTen , Is there a way to add this to an indicator of a similar scale (such as a GACD) without having it flattening the GACD indicator?
https://usethinkscript.com/threads/...convergence-divergence-for-thinkorswim.11300/

 

[MerryDay]

Hi @BenTen , Is there a way to add this to an indicator of a similar scale (such as a GACD) without having it flattening the GACD indicator?
https://usethinkscript.com/threads/...convergence-divergence-for-thinkorswim.11300/

There is a normalizing scale routine tutorial that you could attempt:
https://usethinkscript.com/threads/normalized-macd-for-thinkorswim.9502/
When reading through the link; note that sometimes the results are not accurate.

 

[eagle_ai]

There is a normalizing scale routine tutorial that you could attempt:
https://usethinkscript.com/threads/normalized-macd-for-thinkorswim.9502/
When reading through the link; note that sometimes the results are not accurate.

Thank you. I'll try.