J-Pips — Indicator by nvrstpexploring

truerange averagetruerange pips jpypips pipcounting

I made this tool to measure the exact PIP range of different currency pairs in an easy to understand format.
It comes with the option to convert the PIP Values to XXX/JPY Pairs with a simple check-box.
"H" is the highest PIP movement in 377 time periods.
"N" is the EMA-377 of the PIP ranges.
"P" is the current time periods PIP moment (true range).

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?

// JPIPS by NVRSTPEXPLORING
// I made this tool to measure the exact pip range of different currency pairs
study(title="J-Pips", overlay=false)
JPY = input(title="XXX/JPY Instrument?", type=bool, defval=false)
pips = tr*10000
jpips = tr*100
hi = highest(JPY? jpips:pips,377)
nrm = ema(JPY? jpips:pips,377)
palette = close >= open ? green : maroon
P1= plot (JPY? jpips:pips, style=columns, trackprice=true, color=palette, title="P")
P2 = plot (hi, title="H")
P3 = plot (nrm, title="N")