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# Float | ||
Float is a complex indicator that detects trend waves and applies Fibonacci/DiNapoli analysis to them. | ||
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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. | ||
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This indicator uses tick volume to analyze trends. You must be aware that tick volume is a rather controversial tool in spot Forex trading. | ||
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![Float indicator found a bearish trend wave on the hourly chart of USD/JPY](https://github.com/EarnForex/Float/blob/main/README_Images/float-analysis-of-trend-wave.png) | ||
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More information about this custom MetaTrader indicator is available here: https://www.earnforex.com/metatrader-indicators/Float/ | ||
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Any contributions to the code are welcome! |