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.
Remove from Favorite Scripts Add to Favorite Scripts
// 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
First. Added to favorites - will play around when i have time !:)
Loving the look of this, have been laying it onto forex of all periods and I'm sure it can be used as great guidance, thank you very much
Ucsgears thank you very much for the indicator. After taking a look - isn't that the same as Stoch(length) crosses with 50 line ?
This can be coded with Fast and Slow Stoch, at 50 line.
I meant, Works similar, Looking at the Highest and Lowest within a range.
Precisely, if you put stoch with the same length as in MM, without any slowing. Add levels every +/- 12,5% (for 1/8 or 25% for 1/4). Track 50 level crosses and voila - you've got MM oscillator.
Yes, Stochastic is measured in %. (That's my favorite indicator), This is just the price action and a direct mirror image for the overlay.
I think this is a fantastic piece of work. I hope to see how to best combine it with some of your other excellent scripts. It will take a few days for me to find the time to give it the kind of testing it deserves. If you have any suggestions on the best candidates for the combination feel free to suggest them as I will be looking at a lot of combinations.
+1 Reply
Nicely done!! Happy trading
+1 Reply
Thank you for the script.
AWESOME ..... ucsGEARS It's just beautiful ...& comes very close to the Holy Grail or Silver Bullet of Trading ! Thank You SO Much !
354 likes - insane gear mode!
Hey ucsgears! Is there the same indicator for MT4 anywhere?
Valex91 Zaloopa
Hey Zaloopa, If you still interested i've adapted it for MT4.

Thank you for the script ucsgear the hardest part was done ;)

Alexis N
andreas73 Valex91
hi Valex91 can I have this indi for mt4? That would be nice, @ ucsgears: really nice work
Hi Alexis N,

Great indicator ucsGEARS!

Would you happen to have this indicator for MT4?

This is probably my favorite indicator, and most valuable indicator, that I've found. Thank you.
@ucsgears being able to change the resolution in the settings of the indicator, such as looking at resolution of 5 minutes, on a 1 min chart, would be wonderful.
@stockspy, You can adopt that. there are plenty of such examples
Good afternoon! Thanks for the great indicator. Tell me, what does purple bar mean? Thank you!
ucsgears PRO AndreiDuke
@AndreiDuke, A new high in the timeframe.
Is this project still alive. I think there might be some gold here.
ucsgears PRO davidmysterfx
@davidmysterfx, Yes It is alive. I use this to trade on weekly basis - mostly options
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out