Graphic Shading Programming?

I was wondering if there were any sort of graphic programming languages, as used in UE3/4 (unreal engine) to do shaders. I haven’t really found any sort of abstract solution which simply supplies a tool to create shaders and a compiler to generate the appropriate glsl/hlsl code for the shader. Is there any such api, open source or otherwise? If not i was wondering why not? Is it too difficult to abstract, or would the advantages of using such a system be negated by abstracting it to be integratable into any game engine?

Ogre3d uses some kind of material language and translates it into API shaders. (Cg/GLSL/HLSL?)
http://www.ogre3d.org/tikiwiki/tiki-index.php?page=RT+Shader+System

And there are translators like toGL from valve that include a HLSL to GLSL translator.

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