The Warden Stochastic differs from other stochastics in that it ranks closing prices by assigning a value based on the ranking of the recent close compared to the previous close.
Like other stochastics, the Worden version provides overbought and oversold levels as well as potential trading signals using signal line crossovers.
A value above 80 is considered overbought, a value below 20 is considered oversold. This is not necessarily a reason to buy or sell. It simply indicates that the price is at the top or bottom of its recent closing price range.