Stochastic RSI derives its values from the Relative Strength Index (RSI); it is the Stochastic indicator applied to the RSI indicator.
The Stochastic RSI indicator (Stoch RSI) is essentially an indicator.
It is used in technical analysis to provide a stochastic calculation to the RSI indicator.
This means that it is a measure of RSI relative to its high/low range over a user-defined period.
The Stochastic RSI is an oscillator that calculates a value between 0 and 1 It is plotted as a line.
This indicator is primarily used for identifying overbought and oversold conditions.