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Imo, I think that you may be viewing Sine in the incorrect context of the market or chart you are trading; as a buy or sell signal, I think it's rather useless. Now if you want to look at, say cyclicality in the form of an area where price may reverse or consolidate before continuing in the prior direction, then I would say yes Sine may be a viable tool for that.
There exists a sinewave indicator created by John Ehlers. It first calculates a period of the market oscillation by using the Hilbert Transform and then tries to anticipate tops and bottoms. In my opinion it's a nice mathematical idea, however I doubt it can be profitable in the market.
