Stochastic RSI Indicator
The Stochastic RSI (StochRSI) is a momentum oscillator that measures the level of RSI (Relative Strength Index) relative to its range over a specified period. A value above 0.8 typically indicates overbought conditions (potential short signal), while a value below 0.2 indicates oversold conditions (potential long signal). Traders often use crossovers of the StochRSI's key levels or look for divergence with price trends to time entry and exit points for long and short trades. However, like any indicator, it should be used in conjunction with other analysis techniques to confirm signals.