Our StochRSI Pro oscillator is an enhanced version of StochRSI, which is an excellent combination of the original Stochastic and RSI indicators. It was developed to take advantage of both these famous momentum indicators to create a more sensitive oscillator.

Like a traditional Stochastic oscillator, StochRSI Pro alerts traders about the overbought and oversold areas. However, instead of taking price data as an input, StochRSI Pro uses the RSI value in its formula. Since RSI is a derivative of price, StochRSI is the 2nd derivative of price.

As the RSI now becomes the input value instead of the standard price data, traders can see that this oscillator travels quickly from overbought to oversold or vice versa - much more quickly than the traditional Stochastic or RSI indicator.

One important note is that overbought doesn't directly tell that the price will fall, just as oversold doesn't guarantee the price will rally. Instead, the overbought and oversold conditions just alert traders that the RSI value is near the extremes of its scale, and then you can start looking for a retracement on reversal on the price action.

• Signal_State: 1 = overbought, -1 = oversold, 0 = middle
• Signal_Trade: 1 = %K cross above %D in oversold, -1 = %K cross below %D in overbought, 0 = no signal