StochRSI

Where RSI sits within its own recent range, from 0 to 1.

What it measures

StochRSI takes the last periods values of RSI and gives the latest one’s position between their lowest and highest. It moves faster than RSI and reaches its extremes far more often.

How traders read it

Traders read above 0.8 as overbought and below 0.2 as oversold. Because it is so quick, it is usually combined with a trend filter rather than traded alone.

Formula

StochRSI = (RSI − lowest RSI of the window) / (highest RSI of the window − lowest RSI of the window)

RSI uses the same periods.

Settings and output

Call: stochRsi(periods)

Setting	Chart default
`periods`: Periods	14

What you get: a number.

Warm-up: with stochRsi(14), it asks for 0 bars of history and a run-up of 43, and its first value came on bar 28 of the example data.

Chart

StochRSI drawn by its own code on example prices

The prices are made up, hourly, and the same on every page, so the chart shows how the indicator behaves, not how a market behaved.

In an algorithm

function onIntervalClose() {
  if (OPEN_POSITIONS_COUNT === 0 && CLOSE > sma(50) && stochRsi(14) < 0.2) {
    openPosition("BUY", { quantity: 10000, stopLossPips: 25, takeProfitPips: 40 });
  }
}

If RSI has not moved at all across the window, the range is zero and the value is not a number.