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 ****
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
// 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.