The invention relates to a float type level gauge for on-site indication, which comprises a float, a graduated scale and a noctilucence wheel, and is characterized by further comprising a conducting or magnetic conducting guide rail, wherein the noctilucence wheel comprises an insulating box, a light source, two longitudinally arranged magnetic shafts or metal shafts, and two conducting wires for supplying power to the light source; for a magnetic float type level gauge, the noctilucence wheel also comprises a steel magnet; under the magnetic action, the magnetic shafts or the metal shafts, along with upward and downward movements of the float, move upwards and downwards along the guide rail so as to indicate the liquid level on-site accurately in time; or a resistance wire is enwound on the guide rail, and the resistance value of a conducting loop comprising the guide rail, the magnetic shafts or the metal shafts, the conducting wire, the light source and the like is measured to acquire a corresponding liquid level value so as to achieve the continuous long-distance transmission of liquid level data. The float type level gauge can also comprise a pulley wheel, a counterbalance, a connecting rope or a connecting belt to balance the noctilucence wheel. The float type level gauge has the significant characteristics of simple structure, clear and obvious on-site indication, flexible and accurate measurement and continuous long-distance signals.