Stochastic RSI Indicator
The Stochastic RSI (StochRSI) is a momentum indicator that measures the level of the Relative Strength Index (RSI) relative to its high-low range over a specified period, typically combining the stochastic oscillator and the RSI. It generates values between 0 and 1, with levels above 0.8 indicating overbought conditions and below 0.2 suggesting oversold conditions. Traders often use StochRSI to identify potential reversal points and trends in securities, providing signals for entry and exit points in their trading strategies.