The conversion tracking Facebook pixels got an upgrade in an effort to enhance the relevancy and usefulness of ads. It is measured as the engine behind Facebook’s tracking and targeting and the rolled out upgrade confirms that it will now capture additional information, including actions and page structure and data.
The ability to track actions on based on site use is one of the biggest areas marketers should pay attention to. The additional information sent through pixel will include actions on your page, like “add to cart” or “purchase” clicks, and will also include information from your page’s structure to better understand context associated with these actions.
This would help advertisers gather more data on their site without having to implement custom events. The page metadata that would now be passed along includes Opengraph or Schema.org data included on the page.
For detailed information, you can see the official Facebook Update.
If your pixel was created before April 20, the new functionality will go into effect on May 20. If the pixel was created after April 20, the functionality will be active now.
A user can also turn off this new upgrade by implementing the instructions available on Facebook for Developers page.