Thread: Measuring distance on chart excluding pip value?

Hey men,

Does anybody know a way of measuring distance on a chart excluding pips?

I am looking for certain setups after first big moves, so I could quantify pips from a certain point but this pip value will prob be different for many charts as some currency pairs move a lot more/have a larger daily range then other people.

I'm looking for a consistent method of being able quantify price between 2 points across several charts.

Any recommendations?

Originally Posted by ;

Hey guys, Does anyone know a method of measuring distance on a chart excluding pips? I am trying to find certain setups after first big moves, I could quantify pips from a certain point but then this pip value will prob be different for many charts as some currency pairs move a lot more/have a larger daily range then other people. I am searching for a consistent method of being to able quantify price between 2 points across several charts. Any recommendations?

Hi,
You could try to quantify change as a percent of ATR of every market. That way you're making some attempt to compare the relative move in every market, relative to the volatility of the market. It really depends upon what metric you're attempting to capture in your comparison.