*INDICATOR OF THE MONTH*

 Developed by Edwin Sedgewick Coppock, the Coppock indicator 
 identifies significant lows in the markets. The Coppock 
 Indicator is a momentum oscillator that was designed for 
 long term investors to begin accumulation at the beginning 
 of a bull market.

The Coppock Curve, as it`s sometimes known, has proven to be 
very good at discriminating between bear market rallies and 
true bottoms in the markets. Moreover it has proven to be 
remarkably resistant to whipsaws.

The Coppock Indicator signals the beginning of a bull market 
when it turns and starts to head up. This signal is usually 
after the first leg of a bull market is underway, thus it`s 
highly reliable. The indicator should be applied to monthly 
charts of broad market indices.

The indicator is calculated by taking the 14-month rate of 
change (%) of the index and adding the 11-month rate of 
change (%) of the same index. A 10-month exponential moving 
average is taken of the sum of the two rates of change.

Check it out for yourself.

Simply use the pre-written MetaStock code below and paste
it into your indicator builder.

(MOV(ROC(MOV(C,22,S),250,%),150,E))/100