You could use a fourth field. Put data in field 4 each time you update field 1 or field 2. Then trigger your react on field 4 with new data and have your matlab analysis check for data in field 1 or 2 and update field 3 based on the data check in your analysis app.
You could do something similar to this
data=thingSpeakRead(YOURCHANN#,'Fields',[1,2]); %add read api key if necessary
if isnan(data(1))
data(1)=0;
end
if isnan(data(2))
data(2)=0;
end
value=data(1) & data(2);
thingSpeakWrite(YOURCHANNEL,value,'fields',3,'WriteKey','WRITEAPIKEY'));