The Cycles indicator is a drawing tool used to identify cyclical price activity (repeating peaks and troughs). By selecting a Start & End point, repeating intervals are drawn on the chart (both forwards and backwards) with semi-circles being drawn at the base of the tool, to indicate mid-cycle peaks. The Cycle intervals can be set in the Properties (eg 90 bars, 90 calendar days, etc) or dynamically adjusted by left-clicking and dragging an interval line.
This is a companion discussion topic for the original entry at https://www.optuma.com/kb/optuma/tools/cycles/cycles-tool