This paper introduces a novel parameter, called iterated type partition, that can be computed in polynomial time and nicely places between modular-width and neighborhood diversity. We prove that the Equitable Coloring problem is W[1]-hard when parametrized by the iterated type partition. This result extends to modular-width, answering an open question on the complexity of Equitable Coloring when parametrized by modular-width. On the contrary, we show that the Equitable Coloring problem is FPT when parameterized by neighborhood diversity. Furthermore, we present a scheme for devising FPT algorithms parameterized by iterated type partition, which enables us to find optimal solutions for several graph problems. While the considered problems are already known to be FPT with respect to modular-width, the novel algorithms are both simpler and more efficient. As an example, in this paper, we give an algorithm for the Dominating Set problem that outputs an optimal set in time O(2 t + poly(n)), where n and t are the size and the iterated type partition of the input graph, respectively.