Yes, I think you have the same indicator I have. That is the default template. I have added a volatility channel breakout indicator (blue and red arrows) to help with timing (mindhero). It would seem that by taking the signals with the direction of the composite would be in our favor. Yes, it does re-calculate the waves on every bar. But it seems to me in forex, you have to based on the constant flow of news affecting prices. If we were trading stocks, news is not as fast paced, and a descent prediction may occur well into the future (90% accurate to 100 days - per Millard). That is why I find myself sticking to the lower timeframes, where the cycles are established and quickly absorbed by the news.

I've been trying to read about FFT. The math is way over my head. I like SSA too (over-priced for me). It has a prediction mode which I like, to extrapolate the cycles into the future. I am going to try to do the same with this indicator, but can only do it with the waves. I tried re-creating the composite by adding the individual cycles (should work in theory), but couldn't get it to work.
The FFT routine does something extra in computing the composite that I don't know about.

If I can just extrapolate enough into the future to at least project a timeframe where a turning point should occur would be ecstasy.

But currently, by adding some trendlines and by using a little pattern recognition, I think we'll have something.

Carl