---
title: "Coppock Curve: Formula, Meaning"
description: "A long-term momentum indicator by Edwin Coppock, originally designed for monthly stock index data. It is a weighted moving average of the sum of two rates..."
canonical: https://www.getswoopr.com/indicators/momentum/coppock-curve/
source: "Swoopr Investment: https://www.getswoopr.com"
---

## Direct Answer



> Coppock Curve is a momentum measure used to measure the speed, persistence, or relative intensity of recent price movement. The production page must define the exact calculation convention before interpreting higher or lower readings, because platform and provider implementations can differ.





      


# Coppock Curve: Formula, Meaning, Signals, Examples and How to Use It



## How Is Coppock Curve Calculated?

A long-term momentum indicator by Edwin Coppock, originally designed for monthly stock index data. It is a weighted moving average of the sum of two rates of change.

**Formula:** `Coppock = WMA(ROC(14) + ROC(11), 10), originally on monthly data`

**Inputs:**

- Closing prices (originally month-end)
- Rate of change periods 14 and 11
- 10-period weighted moving average

**Worked example.** Before the weighted smoothing step, a 14-period ROC of 6 percent and an 11-period ROC of 4 percent combine to 10.0 percentage points. The inputs are illustrative numbers, not market data.

**Reading it.** Readings above zero indicate positive long-term momentum and below zero negative. Traditionally the curve has been watched for turns up from below zero as a sign that a long decline may be easing.

**Limits.** Built for monthly data, it signals infrequently and with significant lag. Applying the same settings to daily bars changes its meaning, and it has few signals to evaluate historically.


      

## Indicator overview





| Attribute | Value |
| --- | --- |
| Category | Momentum |
| Asset classes | Stocks, ETFs, Indexes, Futures, Forex, Crypto, Commodities |
| Output type | Oscillator/line |
| Parameters | Varies by implementation; document exact settings on use |






## What is Coppock Curve?



Coppock Curve is a momentum measure used to measure the speed, persistence, or relative intensity of recent price movement. The production page must define the exact calculation convention before interpreting higher or lower readings, because platform and provider implementations can differ.



For Swoopr, the canonical profile separates definition, calculation, interpretation and decision use. That keeps readers from collapsing a descriptive metric into a trading strategy. An indicator can describe trend, momentum, volatility, participation, positioning or risk without providing a complete entry, exit, sizing or portfolio decision.




## What does it measure?



Coppock Curve measures specific market properties in the Momentum domain. The practical value is repeatability: the same inputs and formula can be applied across a defined dataset, allowing users to compare readings through time or across instruments when the calculation convention is held constant.




## How to read Coppock Curve



Interpretation depends on the market property being measured. A descriptive reading is not automatically predictive. The same numerical state can lead to different outcomes in a strong trend, quiet range, event-driven gap or illiquid market. Always combine with context from price structure, volume, and broader market regime before drawing conclusions.




## Strengths



- Summing two rates of change before applying a weighted average blends two lookbacks into one smooth line suited to slow cycles.
- The weighted moving average gives recent periods more influence than older ones, so it reacts a little faster than a simple average of the same inputs.
- Reproducible when the formula and data convention are fixed.




## Weaknesses and limitations



- The original design interprets only upturns from below zero, so the formula supplies no matching rule for exits.
- Each rate of change compares with a price 11 or 14 periods back, so one unusual period stays in the sum until it ages out of the window.
- Correlated indicators can create false confidence by repeating the same underlying information.




## Editorial and risk note



This page is educational content, not individualized investment advice. It should not imply guaranteed prediction, accuracy or outperformance. Where multiple valid definitions exist, Swoopr states the alternatives and the reason for selecting its primary convention.







## Frequently Asked Questions


        



Is Coppock Curve a buy or sell signal?




No. Readings above zero indicate positive long-term momentum and below zero negative. Built for monthly data, it signals infrequently and with significant lag. A trade built on it still needs a trigger, an invalidation rule, a position size and realistic execution assumptions.










What is the best setting for Coppock Curve?




Coppock Curve takes these inputs: closing prices (originally month-end); rate of change periods 14 and 11; 10-period weighted moving average. There is no universal best setting for the tunable ones, so test them across instruments, regimes and out-of-sample periods and favor stable parameter regions over one historical winner.










Can Coppock Curve be used by itself?




Built for monthly data, it signals infrequently and with significant lag. Applying the same settings to daily bars changes its meaning, and it has few signals to evaluate historically. For that reason it is read next to measures of direction, participation, valuation, liquidity and risk, not alone.










Does Coppock Curve work on every timeframe?




The calculation (Coppock = WMA(ROC(14) + ROC(11), 10), originally on monthly data) can be run on any bar size, but behavior is not portable: a reading on a five-minute chart describes a very different market window from the same reading on a daily chart. Validate the exact timeframe before relying on it.










Why does Coppock Curve give false signals?




The original design interprets only upturns from below zero, so the formula supplies no matching rule for exits. Each rate of change compares with a price 11 or 14 periods back, so one unusual period stays in the sum until it ages out of the window. Lag, noise and regime changes add to this, because market participants react to new information after the reading is calculated.










How should Coppock Curve be backtested?




Rebuild Coppock Curve from closing prices (originally month-end) using point-in-time data, write the rules before testing, include delisted securities where relevant, model realistic fills and costs, reserve a validation sample and compare with a simpler baseline.












S




Swoopr Editorial Team



The Swoopr Editorial Team produces independent investment education, research, and tools for understanding markets, evaluating opportunities, and managing risk. All content is educational only and does not constitute personalized investment advice.



See our [editorial policy](https://www.getswoopr.com/legal/editorial-policy/) and [corrections policy](https://www.getswoopr.com/legal/corrections-policy/).