Matrix Mod — Indicator by TheYangGuizi

matrix oscillator momentum glaz divergence oversold overbought

This is the Matrix oscillator made by glaz. So credit goes to him.

I made some minor modifications to it:
1. added a zeroline
2. added 3 options to color bars/candles depending on:
- if the oscillator is above/below 0
- if it's oversold/bought*
- if the matrix has a green bar or a red

That's all :)

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?

study("Matrix Mod",shorttitle="MS",precision=1)
Smoother=input(5)
nn = Smoother
//--Sup/Res Detail
SupResPeriod = input(50)
SupResPercentage =input(100)
PricePeriod = input(16)
ob = input(200,title="Overbought")
os = input(-200,title="Oversold")
OBOS= input(type=bool,defval=false,title="Show OB/OS") 
dynamic=input(true,title="Dynamic zones")
ys1 = ( high + low + close * 2 ) / 4
rk3 = ema( ys1, nn )
rk4 = stdev(ys1, nn)
rk5 = (ys1 - rk3 ) * 200 / rk4
rk6 = ema( rk5, nn )
up = ema(rk6, nn )
down = ema( up, nn )
Oo = iff( up < down, up, down )
Hh = Oo
Ll = iff( up < down, down, up )
Cc = Ll
vcolor= Oo > Cc ? red : up > down? green:red 

// Body Calculations
bodyHigh = up>down ? up : down
bodyLow = Oo<down ? up : down
body0 = (up>0 and down>0) or (up>0 and down<0) ? bodyHigh : (up<0 and down<0) or (up<0 and down>0) ? bodyLow : 0
body1 = up<0 and down>0 ? bodyHigh : up>0 and down<0 ? bodyLow : 0
bodyCover = up>0 and down>0 ? bodyLow : up<0 and down<0 ? bodyHigh : 0
// Wick Calculations
wick0 = Hh>0 ? Hh : Ll
wick1 = Hh>0 and Ll<0 ? Ll : Hh
wickCover = Hh>0 and Ll>0 ? Ll : Hh<0 and Ll<0 ? Hh : 0
plot(Oo, linewidth=3, color=vcolor, style=histogram, title="Oc")
plot(Cc, linewidth=3, color=vcolor, style=histogram, title="Cc")
plot(bodyCover, linewidth=3, color=white, style=histogram)



//-------S/R Zones------
Lookback = SupResPeriod
PerCent = SupResPercentage
Pds = PricePeriod

C3 = cci(close,Pds )

Osc = C3
Value1 = Osc
Value2 = highest( Value1, Lookback )
Value3 = lowest( Value1, Lookback )
Value4 = Value2 - Value3
Value5 = Value4 * ( PerCent / 100 )
ResistanceLine = Value3 + Value5
SupportLine = Value2 - Value5
plot(dynamic?ResistanceLine:na,color=green)
plot(dynamic?SupportLine:na,color=red)

//--Overbought/Oversold/Warning Detail
UPshape = up > 200 and up>down ? highest(up,1) + 20:up > 200 and up<down?highest(down,1) + 20:na
DOWNshape = down < -200 and up>down ? lowest(down,1) - 20:down < -200 and up<down?lowest(up,1) - 20 :na
plot(UPshape,style=linebr,color=red,linewidth=2)
plot(DOWNshape,style=linebr,color=green,linewidth=2)
x1=OBOS?ob:false
x2=OBOS?os:false
hline(x1)
hline(x2)
hline(0)
//http://www.wisestocktrader.com/indicators/2739-flower-indicator

barcolor(Oo > 200 ? black : Cc < -200 ? white : na, title="OSOB")
barcolor(Oo > 0 ? green : Oo < 0 ? red : na, title="0-Cross")
barcolor(Oo > Cc ? red : up > down? green:red , title="ColorChange")