Set parent control's property with change in child control's property value in XAML (Using AncestorType binding)

In XAML, one can set parent's property from the change in a property of child control. To do so we can use AncestorType binding for the child control.

Consider an example we have a StackPanel having a TextBox. Which ever color user enters in the textbox must be reflected in the StackPanel's Background.

XAML

<StackPanel Orientation="Vertical" x:Name="stk">
            <StackPanel Orientation="Horizontal">
                <TextBlock Text="Enter Color:"></TextBlock>
  <TextBox x:Name="colorName" Width="150" BorderBrush="Brown" 
    Text="{Binding RelativeSource={RelativeSource Mode=FindAncestor,        
    AncestorType={x:Type StackPanel}}, Path=Background,Mode=OneWayToSource}">
  </TextBox><TextBox Text="Color Format = ARGB"></TextBox>
            </StackPanel>
</StackPanel>

Output