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).
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// 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")
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