Walter Bressert started with cycle trading and published is findings in different books. In one off his documents "Timing is everything, The Cycle Trading Pattern" he's using a very simple oscillator.
This oscillator called RSI3M3.
The RSI3M3 is a 3-bar RSI smoothed with a 3-bar moving average.
Oscillator/Cycle Combinations that Identify Trading Cycle Tops and Bottoms. Trading cycles show distinct tops and bottoms that are frequently accompanied by overbought and oversold levels of an oscillator that is derived from price activity. This oscillator shows the ebb and flow of market energy, or the buying and selling power as it tops and bottoms. Although not based on time, it quite frequently identifies cycle tops and bottoms with accuracy of 80-90% depending on the market and time frame. With this kind of accuracy the oscillator can be used to identify high probability trading situations at tops and bottoms of cycles. Even better, the oscillator can be used to generate mechanical buy and sell signals that take much of the judgment and stress out of trading.
In combination with other indicator, like the MACD, this could be a powerfull tool to make youre strategy more accurate.