Pedestrians consist a large part of vulnerable road users in transportation networks with unpredictable behaviour and different motion profiles and patterns. Their interaction with vehicular traffic is a major pillar in the field of transportation and it is vital to maintain high safety levels in any type of interaction due to pedestrians’ high vulnerability. Numerous studies have dealt with these issues and been focused on evaluating traffic safety levels at the encounter points using different indicators and surrogate safety measures (SSMs). Scope of this work is to present the findings of an extensive literature review summarizing the different indicators used for assessing the risk levels of these interactions. The review includes interactions at intersections, mid-block crosswalks and jaywalking using real time collected data, virtual experiments and driving simulators. Apart from these issues, the review revealed critical values of these indicators for categorizing the safety levels of the interactions as well for identifying the thresholds the pedestrians perceive for deciding to cross the road segment. The results showed that time-, distance- and speed based indicators are the main categories of parameters used for describing interactions and assessing their safety levels.