I was irritated by the looks of the graph, because it's not exactly the same graph shifted to the right. (look just after the last peak).

I think my interpretation must be false, because I get only like 400 Trades on EURUSD for the whole year 2015 on the 1min TF, compared to over 10000 with RSI.

int Cycle = 0.5*DominantPeriod(Price,20);
vars CGO = series(CGOsc(price,Cycle));

if(crossOver(CGO+1,CGO))
enterLong();
else if(crossUnder(CGO+1,CGO))
enterShort();