DJ, there is a related question answered on these pages about the Ariston Margherita 2000 http://www.howtomendit.com/answers.php?id=6319 (this is the URL). The Indesit 'W' series and the Ariston are apparently the same machine inside. The turning dial indicates a fault and also the pattern of flashing LED also reports a fault. On mine it related to the pump being unable to drain. If it sounds like the pump is 'wurrrring', then it may be blocked. There is a drain on the front behind the kick plate, at if you put it on it's side there is a rubber boot under the drum that you can remove to check for old fivers. (You'll see up the side of the drum there is a device that senses if it is flooded, and that is what causes it to trip out.)
Pablo, September 2005