STOCHRSI

Type: stochrsi • Category: indicators

Description

Stochastic RSI

Parameters

Name	Type	Description	Required	Default
dataExp	string	Price list	no
timeperiod	number		no	14
fastk_period	number		no	5
fastd_period	number		no	3
fastd_matype	number		no	0

Help

STOCHRSI

Overview

The STOCHRSI worker is an indicator used in financial markets to gauge the level of the Relative Strength Index (RSI) relative to its own high-low range over a given period of time.

Description

The Stochastic RSI (STOCHRSI) is a technical indicator that combines the features of two popular indicators: the Relative Strength Index (RSI) and the Stochastic Oscillator. The RSI measures the magnitude of recent price changes to determine overbought or oversold conditions. The Stochastic Oscillator compares the closing price of a security to its price range over a given period. The STOCHRSI, therefore, provides a more sensitive and rapid indicator of the market's conditions.

What does this worker do?

This worker calculates the STOCHRSI values based on the provided price data and parameters. It helps traders and analysts to:

• Identify overbought and oversold conditions in the market.
• Generate trading signals based on the crossover of the STOCHRSI lines or when the STOCHRSI reaches extreme levels.

How to interpret the results

• Overbought Condition: When the STOCHRSI reaches a level above 80, it indicates that the market is overbought, suggesting a potential sell signal.
• Oversold Condition: Conversely, when the STOCHRSI falls below 20, it indicates an oversold market, suggesting a potential buy signal.
• Bullish and Bearish Divergences: Divergences between the STOCHRSI and price action can also be used to anticipate potential reversals.

Parameters

The following parameters can be adjusted to customize the STOCHRSI calculation:

Parameters Schema (JSON)

{
  "dataExp": {
    "type": "string",
    "description": "Price list"
  },
  "timeperiod": {
    "type": "number",
    "default": 14
  },
  "fastk_period": {
    "type": "number",
    "default": 5
  },
  "fastd_period": {
    "type": "number",
    "default": 3
  },
  "fastd_matype": {
    "type": "number",
    "default": 0
  }
}

Detailed Parameters List

• dataExp:

  • Type: string
  • Description: The price list data expression.

• timeperiod:

  • Type: number
  • Default: 14
  • Description: The time period used for RSI calculation.

• fastk_period:

  • Type: number
  • Default: 5
  • Description: The period used to calculate the %K line of the Stochastic Oscillator.

• fastd_period:

  • Type: number
  • Default: 3
  • Description: The period used to calculate the %D line of the Stochastic Oscillator.

• fastd_matype:

  • Type: number
  • Default: 0
  • Description: The moving average type used for the %D line calculation. A value of 0 typically indicates a simple moving average.

By adjusting these parameters, users can customize the sensitivity and behavior of the STOCHRSI indicator to suit their trading strategies and market analysis needs.