This oscillator basically is three in one oscillator with every overbought/oversold condition on different levels being illuminated/highlighted in the oscillator background for ease of spotting potential trade opportunity .
Oscillators involved :-
1. RSI (Relative Strength Index)
2. StochRSI (Stocahstic Relative Strength Index)
3. MFI (Money Flow Index)
Tip :
a. While spotting bullish/bearish divergences, RSI is recommended more than MFI .
b. While spotting oversold/overbought conditions, MFI is recommended more than RSI (that is why MFI oversold/overbought conditions are highlighted much brighter than that of RSI in the oscillator background).
c. Always use Stoch RSI with other indicators and never as a stand alone/independent (use Stoch RSI as grain of a salt) as it just helps you position your entry exit better .
> You can always change configuration in setting/format as per your own requirement.