Basic usage of these indicators respectively are: - RSI values above 70 is commonly overbought, whilst below 30 is oversold. - Stochastics for describing the momentum and turning points of price swings. Please recognize that these are simplified explanations.
Reasons for 2 in 1 assembly: This indicator is intended to be used by students, and followers of Dan Takahashi (a prominent educator of investing in Japan who is also a user of TradingView) . Those who wants to use and learn with the same setup as Dan, would greatly benefit from this since, the complex setting up process which can be a pain for beginners can be skipped with a simple click. Every stylistic choice of color and placement were made to make it similar to the chart used by Dan.
Simple customizations are available such as: - Changing color - Changing the values - Hide/show controls
Notes: This is intended to be used alongside “EMA ICHI BB [Rogulabo] ” for the complete the setup.