StochRSI is indicator developed by Tushar Chande and Stanley Kroll that measures the level of RSI relative to its high-low range over a set time period. StochRSI applies the Stochastics formula to RSI values, instead of price values. This makes it an indicator of an indicator.
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.
Easy StochRSI provides a comprehensive dashboard that allows you to view the StochRSI value of many popular instruments and across multiple timeframes (M5, M15, M30, H1, H4, D1) at one glance. (Please note that M5 is only available for viewing as an optional in-app subscription) This provides you with an understanding of the current market condition (overbought/oversold) on the go.
Below are some of the key features of the app.
– Timely display of StochRSI values of many popular instruments across multiple timeframes,
– Allows configuration of overbought and oversold condition that best suit your personal trading strategy,
– Timely push notification alert when overbought or oversold condition is hit
– Display headline news of your favourite currency pair(s)
Easy Indicators relies on your support to fund its development and server costs. If you like our apps and wish to support us, kindly consider subscribing to Easy StochRSI Premium. This subscription removes all advertisements within the app, receive push alert based on your preferred overbought/oversold values and supports our development of future enhancements.
Easy StochRSI is ad-supported. If you choose to purchase Easy StochRSI Premium to remove ads, payment will be charged to your iTunes account, and your account will be charged for renewal 24 hours prior to the end of the current period. Auto-renewal may be turned off at any time by going to your settings in the iTunes Store after purchase. No cancellation of the current subscription is allowed during active subscription period. Current price for a yearly subscription is $12.99 USD (Basic) or $16.99 USD (Deluxe), and may vary from country to country.
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