Tipu Stops is a simple indicator that plots buy/sell stop loss channels and pips value using commonly used indicators. Tipu Stops also works complementary to the Tipu Trader Panel. You can use the stop loss values from Tipu Stops in Tipu Trader before using the panel for trading.
How to Use
Add the indicator to the chart and select your preferred method of stop loss plot. You may choose from the following methods:
- Average True Range on PRICE_CLOSE.
- Average True Range bands on Hull Moving Average.
- Donchian Channel
- Parabolic SAR
- Last Swing High/Lows
- Show Labels - select true/false to display pips information on the chart
- Buy SL Color/Sell SL Color - select horizontal line colors
- Line Style, Line Width - select line format
- ATR Settings - choose ATR Period, and ATR multiplier
- Hull Moving Average Settings - choose Hull Moving Average settings: period, applied price, MA period, MA method, and MA applied price
- This sections uses the ATR settings from the previous section and plots ATR channel on Hull Moving Average
- Donchian Channel Settings - choose period for the plots
- Parabolic SAR - this is famous indicator by J. Welles Wilder that can also be used for trading signals. You may also consider Tipu Parabolic SAR, and Tipu Parabolic SAR Dashboard, if you want to create your own alert/trading strategy using Tipu Panels.
- Last Swing High/Low - choose ZigZag settings - this is non-repaint ZigZag indicator. It is one of the powerful indicator that can be used to define swings.