Specific to the improvement in the present research of mechanical response under cyclic loading, this paper, taking the calcareous middle- coarse sandstone as the research subject and the RMT-150C experimental system in which data is recoded by ms magnitude as the platform, develops several related models concerning the unloading rate of triangle waves. The unloading process is divided into lag time segment and non-lag time segment, with criterions and related parameters provided as well. The term apparent elastic modulus is defined. The test data analysis shows that there exist a linear relationship between the apparent modulus and instant vertical force before load damage in non-lag time segment. On the preceding basis, a rate-dependent model of triangular wave un-installation section in non-lag time segment is established. Due to the inability of the loading equipment to accurately input the triangle wave, the average loading rate is amended and a constant term is added into it. The model is proved to be reliable, as the predicted value of the deformation rate and the stress strain curve coincides with measured value. At the same time, the impact of the lag time is pointed out quantitatively and a predication model of lag time segment is set up.