Reducing the signal oscillations towards the center mark

Dear all, My aim to reduce the oscillations of a signal to 50% mark using any known techniques. I tried using conventional bandstop filters, the output signal response was good but there is always an unacceptable group delay. So I am trying using wavelet tranform. Is it a suitable way to reduce the oscillations for realtime oscillations. Also the wavelet translates along 0 value x- axis. Is it possible to to translate the wavelet along 50% x-axis and continue the analysis ? Or is there any other best method to reduce the oscillations? Attached sample input signal