Dinapoli Targets Indicator

Dinapoli Targets Indicator

The Dinapoli Targets display pivotal levels based on the Dinapoli levels.

The Dinapoli Targets indicator for MetaTrader 4 is a technical indicator that draws the Dinapoli levels on the chart. The identified zones are key levels that tend to act as potential trend reversal levels, otherwise known as support and resistance.

The indicator is suited for all classes of forex traders, especially the beginners, because it automatically identifies optimal buy/sell entry zones with the corresponding take profit and stop loss targets.

What are Dinapoli’s Targets Levels?
The Dinapoli target levels are technical zones that are plotted based on the Fibonacci levels and the market swing highs and lows, which are reliable support and resistance zones. The indicator plots horizontal lines of different colors to indicate a buy/sell entry, stop loss, and take profit zones.

Furthermore, the indicator would be beneficial in identifying optimal trading zones for scalping and day/intraday trading opportunities. Moreover, it can be used in any time frame to search for trading opportunities. However, zones that are identified on higher time frames tend to deliver better results.

How to Trade With the Dinapoli Targets Indicator for MT4

The above image shows the Dinapoli target levels identified by the indicator. The white and red dotted lines are the buy/sell entry zone and the stop loss level, respectively. Conversely, the green, yellow, and purple dotted lines represent the take profit 1, 2, and 3 levels, respectively.

Furthermore, it is highly recommended to use price action (e.g. bullish/bearish engulfing candlestick) as a confirmation before opening a buy or sell position when the price touches the white line. Besides, you may as well use other technical indicators as confluence before making a trading decision.

Conclusion
The Dinapoli Targets indicator for MT4 is essentially a forex trading tool that draws support and resistance zones based on the Fibonacci levels. In addition, the indicator is recommended to be used along with price action/other technical indicators to confirm a buy or sell entry. Finally, it is free to download.