Stochastic RSI Strategy & RSI Strategy *FREE*

Stochastic RSI & RSI strategy, This is the *FREE* substitution for the LMI indicator. FULL REVIEW of strategy W/ replay markup & Trade management.

*TIMESTAMPS*

Rules- 2:50
Trade Setup- 8:24
2nd & 3rd Examples on basic Forex pair- 40:00

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Trading Platform
META TRADER 4
What Is the Stochastic RSI?
The Stochastic RSI is an indicator used in technical analysis that ranges between zero and one (or zero and 100 on some charting platforms) and is created by applying the Stochastic oscillator formula to a set of relative strength index (RSI) values rather than to standard price data. Using RSI values within the Stochastic formula gives traders an idea of whether the current RSI value is overbought or oversold.
The StochasticRSI oscillator was developed to take advantage of both momentum indicators in order to create a more sensitive indicator that is attuned to a specific security's historical performance rather than a generalized analysis of price change.

What Does the Stochastic RSI Tell You?
The StochasticRSI was developed by Tushar S. Chande and Stanley Kroll and detailed in their book "The New Technical Trader," first published in 1994. While technical indicators already existed to show overbought and oversold levels, the two developed StochasticRSI to improve sensitivity and generate a greater number of signals than traditional indicators could do.

The StochasticRSI deems something to be oversold when the value drops below 0.20, meaning the RSI value is trading at the lower end of its predefined range, and that the short-term direction of the underlying security may be nearing a low a possible move higher. Conversely, a reading above 0.80 suggests the RSI may be reaching extreme highs and could be used to signal a pullback in the underlying security.

Along with identifying overbought/oversold conditions, the StochasticRSI can be used to identify short-term trends by looking at it in the context of an oscillator with a centerline at 0.50. When the StochRSI is above 0.50, the security may be seen as trending higher and vice versa when it's below 0.50.

The StochRSI should also be used in conjunction with other technical indicators or chart patterns to maximize effectiveness, especially given the high number of signals that it generates.

In addition, non-momentum oscillators like the accumulation distribution line may be particularly helpful because they don't overlap in terms of functionality and provide insights from a different perspective.

The Difference Between the Stochastic RSI and the Relative Strength Index (RSI)
They seem similar, but the StochRSI relies on a different formula from what generates RSI values. RSI is a derivative of price. Meanwhile, StochRSI is derivative of RSI itself, or a second derivative of price. One of the key differences is how quickly the indicators move. StochRSI moves very quickly from overbought to oversold, or vice versa, while the RSI is a much slower moving indicator. One isn't better than the other, StochRSI just moves more (and more quickly) than the RSI.
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Видео Stochastic RSI Strategy & RSI Strategy *FREE* канала Christy Kinz Trading