The Coppock Indicator is a WMA of two ROCs.
The basis of the Coppock Curve indicator is a momentum confirmation indicator which oscillates above and below zero and lives in a separate window below price.
This indicator uses two ROC lengths (short and long) with a WMA (weighted moving average) to help smooth things out. Simply stated, the Rate of Change is the percentage change between the current price with respect to an earlier closing price a specific quantity of prior periods. The Coppock Curve is calculated as a 10 period WMA of the sum of the 14 period rate of change and the 11 period rate of change for the currency pair.
This indicator’s settings were actually suggested by the Episcopalian Church. The default settings were proposed by the Bishops of the church.
The 11 and 14 periods for the short and long ROC was told by the Bishops from the Episcopalian Church that the average mourning period is 11 to 14 months. This was interpreted as the oscillator’s downtrend movement was akin to a mourning period