This work shows how a single coil wrapped on a pipe can be used to measure the volumetric flow rate inside the pipe and how by wrapping a second coil the flow direction can be detected. The developed method is very simple, accurate, and cover all the range of flow from low speed to high speed with more accuracy expected at high speed. Few turns are sufficient for the coils, no calibration is needed, and the method can be used for all kinds of nonmagnetic fluids even, with less accuracy, without the need to know the type of fluid inside the pipe. The principle of the developed method is theoretically explained and proved and then experimentally validated.