StochRSIStochRSI is an oscillator used to identify overbought and oversold readings in RSI.
As RSI can go for long periods without passing the overbought (70) or oversold (30) threshholds, StochRSI provides an alternative to identify these conditions.
StochRSI is found by applying the Stochastics formula to RSI readings. It measures the value of RSI relative to its high/low range over a set number of periods. When RSI records a new low for the set period, StochRSI will be at 0. When RSI records a new high for the set period, StochRSI will be at 100.