StochRSI
HTS's StochRSI indicator measures the level of RSI relative to its high-low range over a set time period. StochRSI uses the Stochastics formula to the RSI values, instead of price values. The result is an oscillator that fluctuates between 0 and 1.
Interface
Supported license & Trade types
Formula
StochRSI is an Indicator that has the following formula:
StochRSI = (RSI - Lowest Low RSI) / (Highest High RSI - Lowest Low RSI)
General Settings
Exchange Website to monitor
Currency Pair to monitor for trade signals
Update Speed
Trade Signals
Tip: The exchange doesn't have to be the same exchange you are currently trading on.
Indicator Settings
Length
Number of candles (or time periods) before an action is taken.
Buy Threshold
When the calculation result is equal or below this value, the indicator will generate a buy signal.
Sell Threshold
When the calculation result is equal or above this value, the indicator will generate a sell signal.
Usage
Relative indicators review prices over a specific time span. That time span is the basis for this indicators ability to tell if the prices are high or low (overbought and oversold). This type of indicator takes the highest and lowest price into account and it assumes the prices will remain stable.
When a sudden uptrend or downtrend occurs, the prices are no longer stable relative to the time span, thus these type of indicators would produce inaccurate buy and sell signals.
A relative indicator uses a time frame. This time frame is the span of the time where the high and low prices are evaluated. If this period is to small, then the relative indicators would produce overbought and oversold signals. So, it is very important to set a span that is big enough to find decent high and low prices.
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