2D Sprite Shader, How to color sprites that enter a region?

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:bust_in_silhouette: Asked By avencherus
:warning: Old Version Published before Godot 3 was released.

Working in Godot 2.

I have a character made of a sprite sheet and sprites on top that will rotate and scale over time.

What I would like to do is fade out and manipulate the pixels of all these sprites as they go past some point. I was wondering if it were possible to create some sort of overlaying node with a shader that could sample and change the pixels of only certain nodes. (Probably based on their Z order or parenting.)

I sort of understand how to write some simple shaders and apply them to a single node.

Is there a way to apply such a thing to multiple sprites (regardless of texture region or transformations) just based on the pixels as they are on the screen?