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The Stips indicator is a histogram indicator that determines the direction and strength of the trend, as well as the trend change.

You can use the indicator as a regular oscillator-for signals of trend change (at the intersection of the zero line), as well as for divergence and exit from the specified overbought and oversold zones.

The indicator uses price extremes for previous periods and calculates the ratio between the current price and the extremes.

Therefore, the only parameter is Period (default = 13), which sets the number of bars to determine the extremes.

The higher the Period, the less false signals about the trend change, but the greater the delay of the indicator.

The uptrend is shown in the blue color of the indicator lines, and the downtrend is shown in red.

You can close a short position and open a long one when the line color changes from red to blue.

You can close a long position and open a short one when the line color changes from blue to red.

In this case, you should use a small stop loss, as the lines themselves can suddenly change direction.

The “Inputs” tab of the indicator allows you to select the indicator period.

The “Colors” tab of the indicator allows you to select the color, thickness, and style of the indicator lines.

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  • period – the number of bars used to calculate the indicator.


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