The Stochastic RSI is a technical analysis indicator that combines two other indicators, the Relative Strength Index (RSI) and the Stochastic Oscillator, to provide traders with a more comprehensive view of an asset's momentum and overbought or oversold conditions.
The Stochastic RSI is calculated by first calculating the RSI over a specified period of time and then applying the Stochastic Oscillator formula to the RSI values. The resulting Stochastic RSI values range from 0 to 100, with readings above 80 typically indicating an overbought condition, and readings below 20 indicating an oversold condition.