Stochastic RSI+

Applies signal values to significant changes in momentum and can be used in conjunction with other indicators and analysis to improve trade timing.

Both "Signal Up" and "Signal Down" can be used for alerts.
The magnitude of the signal is the difference between K and D.
(See the code for the logic and implementation.)

Signal Up occurs when momentum is within the band and moving upward.
Signal Down occurs when momentum is within the band and moving downward.

Interpretation Note:
The Stochastic RSI is known for false signals, so it should never be used as a pure buy or sell signal. It is useful as a warning or to help with trade timing.
A good example of this is: If you are bullish on a stock, and the signal is negative (signal down), then it may be wise to not buy until the recent change in momentum has dissipated.

Release Notes:

• Improved code readability.
  
• Added K mode.
  
• Added 6 (phase) alert conditions.
  

Release Notes:

Improved alter text.

Release Notes:

Fixed bug in signalUp and signalDown logic affecting alerts.

Release Notes:

Improved sample chart.

Release Notes:

• Added option for VAWMA
  
• Improved input layout.
  

Release Notes:

Updated to PineScript v5 and fixed issues with signal bands.

Release Notes:

histbase doesn't work right if the upper boundary (ceiling) isn't defined.

Release Notes:

Added option to use MFI instead of RSI.