UCS_Cycle — Indicator by UDAY_C_Santhakumar

This indicator was designed to remove trend from price and make it easier to identify cycles.
Although this indicator has similarities to MACD. It is better used to identify the cycle of High and Lows based on the Statistical Data (Default is set to 25).

**** DO NOT USE THIS AS A MOMENTUM INDICATOR ****

Uday C Santhakumar

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

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Want to use this script on a chart?

// Created by UCSgears 
// Version 1 - Setting for the Power cycle is not determined yet. This is the concept. 
// Larry Gaines version of Cycle uses Linear Regression

study(title="UCS_Cycle_V1", shorttitle="UCS-Cycle", overlay=false)

// Classic Cycle Indicator uses SMA
UseLinearRegression = input(true)
PlotSignal = input(false)

// The Source can be Based on OHLC4 or HL2
src = (ohlc4)
len = input(25, title="Cycle Length")
smooth = input (8, title = "Signal")
basis = UseLinearRegression ? linreg(src, len, 0) : sma(src,len)

cycle = close - basis
cyclesig = PlotSignal ? ema(cycle,smooth) : 0

plot_color1 = cycle > 0 ? green : red

plot(cycle, color = plot_color1, title = "Linear Regression Curve", style = columns, linewidth = 4)
plot(cyclesig, color = gray, title = "Signal")

//END
// Version 2 will have all the settings for the 3 Power Cycle Bands with Options to Plot them all.