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Home » Platforms » TradingView » How to Calculate Pips on TradingView?

How to Calculate Pips on TradingView?

by Fxigor

TradingView is a revolutionary trading platform that leverages the power of crowdsourcing to provide its users with incredible financial analysis and insights. It’s designed to help traders identify potential opportunities and make better, more informed decisions on when to buy or sell stocks, options, futures, currencies, and more. TradingView provides investors with real-time market data straight from the exchanges, including quotes, charts and other technical indicators. Its powerful charting tools enable traders to quickly analyze market trends, draw support/resistance lines, create custom indicators, and even set up automated alert systems. The platform also offers a range of social media-style features such as user profiles, news feeds from exchanges, and comments sections where traders can share their strategies or ask questions. In short, TradingView is a comprehensive trading platform that helps you stay ahead of the curve in today’s ever-changing markets.

A pip is a minor change in the exchange rate for a currency pair and is calculated using the last decimal point. Since most major currency pairs are priced to four decimal places, the slightest change is that of the last decimal point, equivalent to 1/100 of 1% or one basis point.

How to Calculate Pips on TradingView?

To calculate pips on the TradingView chart, you need to use the tool “Measure.” When you drag and drop the “Measure” tool, you can mark two price levels to calculate pips differences. 

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In the image below, you can see what the “Measure” tool looks like:

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how to calculate pips on TradingView using measure

 

Let us show you how we can calculate pips on the TradigView chart if we pick the highest and lowest price levels on the EURUSD chart during the US session.

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For example, the highest high price level is 1.0859, and the lowest low is 1.0802.

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calculate pips on Trading view high and low price

As you can see, this tool shows 57 pips, a difference between 1.0859 and 1.0802.

In any trading platform, to calculate pips for various assets:

How to calculate pip difference in forex?

To calculate the pip difference in the forex pair, you need to count the decimal places where the last decimal place represents one pip difference. For example, the EURUSD currency pair exchange rate of 1.1012 has four decimal places, and each pip has a value of 0.0001. From 1.1012 till 1.1013 is a one pip difference.  However, some currency pairs like USDJPY have one pip value of 0.01. For example, from 108.20 to 108.21 is one pip difference.

 

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how to calculate pip difference - pip value in currency price

Please visit our page to learn more about how to count pips in MT4.
For example, on our website, you can learn how to calculate pips on gold or count pips on silver.

  • Author
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Fxigor
Fxigor
Trader at Leanta Capital
Igor has been a trader since 2007. Currently, Igor works for several prop trading companies.
He is an expert in financial niche, long-term trading, and weekly technical levels.

The primary field of Igor's research is the application of machine learning in algorithmic trading.

Education: Computer Engineering and Ph.D. in machine learning.

Igor regularly publishes trading-related videos on the Fxigor Youtube channel.

To contact Igor write on:
igor@forex.in.rs
Fxigor
Latest posts by Fxigor (see all)
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