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Float is a complex indicator that detects trend waves and applies Fibonacci/DiNapoli analysis to them.

Home Page: https://www.earnforex.com/metatrader-indicators/Float/

License: GNU General Public License v3.0

MQL4 46.72% MQL5 53.28%
chart trading forex forex-trading forex-market metatrader mt4 mt5 mql4 mql5

float's Introduction

Float

Float is a free custom indicator for MT4 and MT5 coded by EarnForex.com. It was originally developed by Barry Stander. It detects major trend waves on a given number of bars and draws Fibonacci and DiNapoli levels across them.

This indicator uses tick volume to analyze trends. You must be aware that tick volume is a rather controversial tool in spot Forex trading.

Float indicator found a bearish trend wave on the hourly chart of USD/JPY

More information about this custom MetaTrader indicator is available here: https://www.earnforex.com/metatrader-indicators/Float/

Any contributions to the code are welcome!

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