DiNapoli Targets MT4 Indicator – Free MT4 Indicator

The DiNapoli Targets MT4 Indicator is based off the famous work by Joe DiNapoli who presented a complete suite of trading tools, including the DiNapoli Fibonacci expansion and Retracement levels as well as publishing the de-trended price oscillator, one of the more famous works from Joe DiNapoli. The DiNapoli levels are built around the Fibonacci levels and are modified. The basic premise is that the DiNapoli levels are projected in advance (similar to Pivot points) and represent potential support and resistance levels. The DiNapoli Targets MT4 Indicator is simple and once applied to the chart you have 5 levels in total. The red line depicts the stop loss level, following a break; the previous bias would be invalidated. The White line depicts the typical entry for the trade, while the Green/Yellow/Purple lines are potential target 1, 2 and 3 levels. The DiNapoli Targets MT4 Indicator can be used across any timeframe, but traders should note that they will often see conflicting signals when switching between time frames.

DiNapoli Targets MT4 Indicator

DiNapoli Targets MT4 Indicator Settings

The DiNapoli targets indicator comes with two configurable options. Not much of information is available as to what these settings mean, but changing the values from the default settings tends to increase or decrease the sensitivity of the DiNapoli targets indicator. Traders are advised to first start off with the default levels and then experiment to figure out other optimal settings for the DiNapoli targets indicator.

Barn: Default setting is 300 and the lower this value the smaller the TP levels get. There is also a chance that the DiNapoli Targets Indicator will frequently shift the bias

Length: The default setting is 6 and this too can be changed to shift around the levels. Again, lower the value the more sensitive the indicator gets

DiNapoli Targets MT4 Indicator Settings

DiNapoli Targets MT4 Indicator – Trading Rules

The DiNapoli targets indicator can be used for trade entry and exit. The chart below shows an example sell signal on EURUSD 1 hour chart time frame using the DiNapoli Targets MT4 Indicator. Here we can see that following the sell signal at the white line, prices started to gradually move lower hitting the first target and the second target level.

DiNapoli Targets MT4 Indicator – Trading Rules

Despite simplicity of the DiNapoli Targets MT4 Indicator, traders should apply caution as the indicator can quickly change the bias. In other words, the Dinapoli Targets MT4 Indicator repaints and traders who are already in a trade, this could be disastrous with the scope of getting whipsawed in ranging markets.

At best, the DiNapoli Targets MT4 Indicator should be used alongside other indicators such as pivot levels or moving averages in order to define the take profit levels more accurately. This indicator works best when there is additional confirmation from other trading indicators or methods that you use.

When used in isolation, it is best advised to use candlestick patterns as an additional confirmation near the entry price points. The chart below shows the DiNapoli Targets on the weekly chart. Notice that initially, prices hit a low and then reversed strongly making a bullish engulfing candle. The eventual dip back to the DiNapoli entry price saw a test of support before prices rallied back higher strongly.

DiNapoli Targets MT4 Indicator – Weekly Charts

Besides price action, traders can also make use of Median Lines or Trend lines in order to better understand the market context and trade when there is a confirmation with the bias and that shown by the DiNapoli Targets MT4 Indicator.

To make it easier, here’s the summary of the trading rules for Auto Trendline MT4 Indicator

Entry Rule
Go long or short when price breakout from the DiNapoli Level

Exit Rule
Exit trade when price approached the next DiNapoli level

Stop Loss
For long position, use the session low as stop loss.
For short position, use the session high as stop loss.
Be aware that if the session candle is very long, then your risk is higher.
You can either skip the trade or enter a smaller lot size.
It’s all about risk management first, profit second.

Time Frames
Technically speaking, you can use this indicator for all time frames. However, the shorter the time frame, you will see more fluctuation and possibly more whipsaw which may cause small losses that can eat up your portfolio quickly. We recommend that you use higher time frames like the 4H for better consistency.

DiNapoli Targets – Joe DiNapoli Video

Please watch this video to further understand why the DiNapoli Targets can be so effective in trading.

DiNapoli Targets MT4 Indicator Download

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