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What was the need to develop the Stochastic RSI version of RSI?
RSI is a technical indicator used in technical analysis that helps to gauge the velocity of price changes. It is also a momentum oscillator and can point to overbought/oversold market conditions. RSI functions on the assumption that prices tend to move far from the mean before reacting or retracting. Quick price increases and decreases lead to overbought and oversold market conditions. The RSI values and the slope is directly proportional to the momentum and extent of price movements and are very helpful to identify overbought/oversold conditions. Welles Wilder developed the RSI oscillator and it works on a formula ... (full story)