I've been a huge fan of the for a long time, but being based on the means its signals often lag by a bar or two (especially in fast moving markets). All I've done here is take the base script (all credit to user @LazyBear), and change the source to a modified .
The Cycle provides more timely entries and exits, often by 1-2 bars. The flip side of the increased responsiveness is a prevalence for more false signals (a perfect example is the 17th August on the above chart). It's the nature of the beast! Still, I've been using this for a few months now and it's (in my opinion) an upgrade on the standard .
As always, you will need to pair this with another indicator or method of to provide a trade bias, as the Cycle (and ) aren't designed to trade every signal. In my experience, either divergence identification, or using one or more moving averages works particularly well.
The indicator is also MTF capable, so you can get some interesting results from that.
Any queries let me know.