by 
This indicator plots a TTM Squeeze momentum oscillator in a separate pane. It compares a Bollinger Band offset to a Keltner Channel offset and marks the zero line white when the difference is non-negative and black when the bands are inside the channel. A line
Indicator · Pine Script v4 · Own pane
[RS][UCS] Murrey's Math Oscillator Modification
The script calculates a normalized oscillator derived from Murrey Math Line principles in a separate indicator pane.
GitHub stars261on the repository
Pine versionv4older, still runs
Lines of code114
Settings5inputs
LicenceNone stated
Last update4 years ago13 Nov 2021
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
[RS][UCS] Murrey's Math Oscillator Modification supports three distinct calculation methods: Donchian Channel, Cumulative Deviation, and Decay Envelope. The indicator measures price relative to dynamically calculated range boundaries and midlines based on a lookback length and multiplier. It plots a color-coded oscillator curve reflecting intensity thresholds and can optionally color price bars based on the oscillator value.
- Three calculation methods (Donchian, Cumulative Deviation, Decay Envelope)
- Color-coded oscillator curve based on level thresholds
- Customizable lookback length and multiplier inputs
- Optional price bar coloring based on oscillator output
Details
Published by
ricardosantos79 on GitHub
Type
Indicator, Pine Script v4
Draws
Separate pane below the chart
Category
Oscillators & momentum, Volatility & bands
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| method | input | m_donchian | method |
| Look back Length | int | 4 | length |
| mult | float | 0.125 | mult |
| Show Murrey Math Fractals | bool | true | lines |
| Show Bar Colors Based On Oscillator | bool | true | bc |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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