Float

[Enivid]

Discuss Float indicator (trend detector) in this thread. You can ask any questions about this indicator here.

[jiva34]

the indicator at bottom of chart called float. also the legend where it says float volume is such and such and then float volume left is such and such...
what is this float volume? can someone explain. I am using the indicator and fibs very successfully. As it fits my trading style. It is very helpful for me. But I would like to understand it a little better....
Thank you. Earn Forex is a very good site.

[Enivid]

As far as I understand, the Float volume is the amount of "volume" in the previous "full trend". The Float volume left is the Float volume minus the amount of "volume" in the current "trend".

[heisami]

Can some one explain to me how exactly does the float make its calculations and decide the start and end of the trend cycle....and very importantly does it repaint? How does one place the stops if trading the 4 hour charts using this indicator...is the target kept open till the float indicator indicates the end of the cycle??? Thanks in advance

[Enivid]

You can browse its code to see the exact formulas. In short - it find the tops and bottoms. As far as I see it doesn't repaint. You can use Fibonacci levels for targeting or - yes, just wait for the trend to end.

[Enivid]

Float indicator is now available for MetaTrader 5.