ucsgears

UCS_Murrey's Math Oscillator_V2

Hello, Murrey Math lovers, Thanks for those who showed interest on this. Based on a request, I have updated the plot / candle coloring, for Version - 2.

This has been in the queue for a while.

There was a Glitch found with the Multiplier. Will Fix in the next version. The Current Version (and the previous version) only supports 1/8 fractions. Will not support 0.25. The code needs to be updated, to automate the fractal line glitches for other ratios, Planned for future update.

Good Luck and Enjoy the Colorful Oscillator. Please keep your suggestions flowing. Lets make it better.
즐겨찾기 스크립트에서 빼기 즐겨찾기 스크립트에 넣기
// Created & Developed by Ucsgears, based on Murrey Math Line Principle
// Version 2 - March, 12 - 2015

study(title="UCS_Murrey's Math Oscillator", shorttitle="UCS_MMLO", overlay=false, precision = 2)

// Inputs
length = input(100, minval = 10, title = "Look back Length")
mult = input(0.125, title = "Mutiplier; Only Supports 0.125 = 1/8")
lines = input(true, title= "Show Murrey Math Fractals")
bc = input(true, title = "Show Bar Colors Based On Oscillator")

// Donchanin Channel
hi = highest(high, length)
lo = lowest(low, length)
range = hi - lo
multiplier = (range) * mult
midline = lo + multiplier * 4

oscillator = (close - midline)/(range/2)

a = oscillator > 0 and oscillator < mult*2
b = oscillator > 0 and oscillator < mult*4
c = oscillator > 0 and oscillator < mult*6
d = oscillator > 0 and oscillator < mult*8

z = oscillator < 0 and oscillator > -mult*2
y = oscillator < 0 and oscillator > -mult*4
x = oscillator < 0 and oscillator > -mult*6
w = oscillator < 0 and oscillator > -mult*8

colordef = a ? #ADFF2F : b ? #32CD32 : c ? #3CB371 : d ? #008000 : z ? #CD5C5C : y ? #FA8072 : x ? #FFA07A : w ? #FF0000 : blue

plot (oscillator, color = colordef, title = "Murrey Math Oscillator", style = columns, transp = 60)
plot(0, title = "Zero Line", color = gray, linewidth = 4)

plot(lines == 1 ? mult*2 : na, title = "First Positive Quadrant", color = gray, linewidth = 1)
plot(lines == 1 ? mult*4 : na, title = "Second Positive Quadrant", color = gray, linewidth = 1)
p3 = plot(lines == 1 ? mult*6 : na, title = "Third Positive Quadrant", color = gray, linewidth = 2)
p4 = plot(lines == 1 ? mult*8 : na, title = "Fourth Positive Quadrant", color = gray, linewidth = 1)
plot(lines == 1 ? -mult*2 : na, title = "First Negative Quadrant", color = gray, linewidth = 1)
plot(lines == 1 ? -mult*4 : na, title = "Second Negative Quadrant", color = gray, linewidth = 1)
p2 = plot(lines == 1 ? -mult*6 : na, title = "Third Negative Quadrant", color = gray, linewidth = 2)
p1 = plot(lines == 1 ? -mult*8 : na, title = "Fourth Negative Quadrant", color = gray, linewidth = 1)

fill (p1,p2, color = orange)
fill (p3,p4, color = lime)

// Bar Color Oversold and Overbought
bcolor = bc == 1 ? colordef : na
barcolor(bcolor)
Thnx for the great work on this indicator. I've one question. How should I interpret price going up or down but the bar color indicating the opposite colorwise, e.g. price goes up but the inside of the bar has a red color (even though it surpassed previous price level where the bar color was green)?
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I am using another MML Pivots indicator and I found yours here today! Looks great. If I am trading FOREX in 5M and 15M charts and my STOCH is set 10,3,3 how would you configure the UCS_Murrey's Math Oscillator?
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curious who is using this and what indicators are you combining with it to get a trade setup? I ran into this a couple years ago. Funny how its easier to see the good stuff later? here's my current trade setup:
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@dougl1965, sorry its an old post but.....do u use shorter look back length oscillator to find right entry point ? what other indicator havv u tried with it ?
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ankitchauhan809 ankitchauhan809
and does it work in ranging markets ?
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ankitchauhan809 ankitchauhan809
how u filter ranging market ?
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Is this project still alive. I think there might be some gold here.
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ucsgears davidmysterfx
@davidmysterfx, Yes It is alive. I use this to trade on weekly basis - mostly options
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Good afternoon! Thanks for the great indicator. Tell me, what does purple bar mean? Thank you!
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ucsgears AndreiDuke
@AndreiDuke, A new high in the timeframe.
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홈으로 스탁 스크리너 포렉스 스크리너 크립토 스크리너 이코노믹 캘린더 사용안내 차트 특징 프라이싱 하우스룰(내부규정) 파인 위저드 모더레이터 웹사이트 & 브로커 솔루션 위젯 차팅 솔루션 라이트웨이트 차팅 라이브러리 헬프 센터 프렌드 리퍼하기 기능 개발/개선 요청 블로그 & 뉴스 트위터
프로화일 프로화일설정 계정 및 빌링 프렌드 리퍼하기 나의 서포트 티켓 헬프 센터 공개아이디어 팔로어 팔로잉 비밀메시지 채팅 로그아웃