Easy STOCHRSI

StochRSI applies the Stochastics formula to RSI values, instead of price values. Using RSI values within the Stochastic formula gives traders an idea of whether the current RSI value is overbought or oversold - a measure that becomes specifically useful when the RSI value is confined between its signal levels of 20 and 80. The StochRSI is deemed to be oversold when the value drops below 20, meaning the RSI value is trading at the lower end of its predefined range, and that the short-term direction of underlying security may be nearing a correction. Conversely, a reading above 80 suggests the RSI may be reaching extreme levels and could be used to signal a pullback in the underlying security. The StochRSI reaches these levels much more frequently than RSI, resulting in an oscillator that offers more trading opportunities. Unlike RSI, StochRSI frequently reaches the extreme 0 and 100 levels.

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M15 M30 H1 H4 D1
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