The indicator is developed in 1994 by Patrick Mulloy. The aim of the development was the reduction of the delay (lag) of the moving average value that is a disadvantage peculiar to the SMA.
During the indicator calculation, the combimation of once and twice smoothed exponential moving avarages gives a less delay than the 12/26-period MACD based of the simple moving averages.
extern int PERIOD =12;
Indicator Coppock. The indicator is developed on the basis of three movings with the user-defined parameters.