Angular 4 pipes are similar to what we use Filters for in Angular 1. Pipes provide the same formatting and transformation for data in the template. Almost all of the inbuilt filters that Angular 1 has correspond to pipes in Angular 4:
// Filter - Angular 1 <td>{{movie.price | currency}}</td> // Pipes in Angular 4 <td>{{movie.price | currency:'USD':true}} </td>
Due to performance reasons, filter and orderBy filters have been removed from Pipes, although you can at anytime build a custom pipe if similar code is reused in multiple templates.
