The Stochastic RSI is an oscillator ranging from 0 to 1 and was developed by Tushar S. Chande and Stanley
Kroll. Compared to the RSI, the Stochastic RSI is much steeper and often resides at the extremes (0 or 1).
It can be used to identify short-term trends.
A return value of 0.2 or below indicates an oversold condition
A return value of 0.8 or above indicates an overbought condition
Overbought doesn't mean that the price will reverse lower but it shows that the RSI reached an
extreme
Oversold doesn't mean that the price will reverse higher but it shows that the RSI reached an
extreme
Stochastic RSI (STOCHRSI) Type: Momentum
The Stochastic RSI is an oscillator ranging from 0 to 1 and was developed by Tushar S. Chande and Stanley Kroll. Compared to the RSI, the Stochastic RSI is much steeper and often resides at the extremes (0 or 1). It can be used to identify short-term trends.
See
https://www.investopedia.com/terms/s/stochrsi.asp