The Dinapoli Targets indicator for Metatrader 5 is originally developed by Joe DiNapoli and provides accurate trend reversal signals with clear entry signal, stop loss and price targets.
The indicator is mainly based on the previous swing high and lows prices (blue colored line).
How to utilize the Dinapoli Targets indicator?
- The white colored dashed line provides the entry signal.
- The red colored dashed line is utilized for stop loss placement.
- The green, yellow and purple colored dashed lines provide target levels.
The indicator works equally well for newbies and seasoned traders alike.
The indicator offers the following adjustable inputs and parameters: bars, length, line style.
Make yourself familiar with this technical indicator and test it first on a demo account before applying it to a live account.
It supports all time frames and Forex pairs.
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dinapolitargets.mq5 Indicator (MT5)
Chart Example
The picture below shows how the Dinapoli Targets indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Dinapoli Targets Indicator?
Find a simple trading strategy below (see chart example above):
Buy Signal
- A buy signal is triggered when the candle closes above the white colored dashed entry line (bullish trend reversal).
- Initiate a buy transaction and place a protective stop below the red colored dashed stop loss line.
- Take profit at the green, yellow and purple colored dashed Dinapoli Targets lines.
Sell Signal
- A sell signal is triggered when the candle closes below the white colored dashed entry line (bearish trend reversal).
- Initiate a sell transaction and place a protective stop above the red colored dashed stop loss line.
- Take profit at the green, yellow and purple colored dashed Dinapoli Targets lines.
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dinapolitargets.mq5 Indicator (MT5)
Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the dinapolitargets.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration