[S]Hurst Cycle Channel Clone Oscillator [LazyBear] — v6 Clean

Hurst Cycle Channel Clone Oscillator [LazyBear] — v6 Clean
Overview
This is a modernized and refactored version of LazyBear's popular Hurst Cycle Channel Clone Oscillator, updated to Pine Script v6 with improved readability, proper input grouping, and enhanced code structure. This indicator helps traders identify cyclical price movements and potential reversal points based on J.M. Hurst's cycle analysis principles.
What It Does
The indicator creates two normalized oscillators that measure price position relative to dynamic channel envelopes:

Fast Oscillator (Red): Tracks short-term cycle movements based on current price position
Slow Oscillator (Green): Tracks medium-term cycle momentum based on the short cycle's midpoint

Both oscillators are normalized between 0.0 and 1.0, making overbought/oversold conditions easy to identify:

Above 1.0 = Overbought territory (purple histograms)
0.5 = Neutral midpoint
Below 0.0 = Oversold territory (purple histograms)

Key Features
✓ Dual-Timeframe Cycle Analysis: Combines short and medium cycle lengths for comprehensive market rhythm detection
✓ ATR-Based Dynamic Channels: Automatically adjusts to market volatility
✓ Clear Visual Signals: Histogram bars highlight extreme overbought/oversold conditions
✓ Customizable Parameters: Adjust cycle lengths and multipliers to match your trading style
✓ Built-in Alert Conditions: Get notified on key crossover events
✓ Optional Bar Coloring: Visual price bar colors based on oscillator position
How to Use
Basic Interpretation:

Fast crosses below 0.0 → Potential BUY opportunity (oversold)
Fast crosses above 1.0 → Potential SELL opportunity (overbought)
Fast crosses Slow → Momentum shift indication
Purple histograms → Extreme conditions requiring attention

Best Practices:

Use in conjunction with price action and trend analysis
Look for divergences between price and oscillator
Pay attention when both oscillators reach extremes simultaneously
Adjust cycle lengths to match the asset's dominant cycle period

Settings
Cycle Lengths:

Short Cycle Length (default: 10) — Fast oscillator sensitivity
Medium Cycle Length (default: 30) — Slow oscillator smoothing

Multipliers:

Short Cycle Multiplier (default: 1.0) — Controls short channel width
Medium Cycle Multiplier (default: 1.8) — Controls medium channel width

Alerts:
Pre-configured alert conditions for all major crossover events
Credits
Original indicator by LazyBear
This is a clean refactor maintaining the original logic while improving code quality and Pine Script version compliance.