Use zigzag value indicator which shows pip — I use similar approach with zigzag indicator with value (setting depth1). Very reliable. See attached indicator. MS
I noticed a spike about 300 pips long in the daily chart of GBPCHF (15 Feb 2012). This is ...
Bat GBPCHF M30 — Just entered hope it will give at least 38.2 % fibs(approx 70 pips). Finger crossed. MS