The Stochastic RSI, as the name implies, is an Indicator of an Indicator. While the Stochastic Oscillator monitors relationships between closing prices and the range, the Stochastic RSI monitors the RSI values and their relationship over time.
Similar to the Stochastic Oscillator, the Stochastic RSI is usually accompanied by a second line %D which is an EMA of the Stochastic values. The crossovers can be used to provide entry triggers as well as confirmation to other indicators.
Calculation:
HighestRSI = The highest RSI value in the selected period
LowestRSI= The lowest RSI value in the selected period
Inputs:
Price Field = Close
Indicates Open, High, Low or Closing price.
K Period = 10
Indicates time period(the number of days for daily analysis, the number of weeks for weekly analysis, etc.).
K Slowing Period = 10
Indicates EMA period to slow the results.
Signal Period (D Period) = 5 (Valid only in MyChart.)
Indicates time period(the number of days for daily analysis, the number of weeks for weekly analysis, etc.) for the signal line.
Moving Average Type = Simple (Valid only in MyChart.)
Indicates the moving average type.
Indicator Type: Momentum