Renko bars for entries, time-based bars for exits

[arbuthnot]

Hi guys

I have a chart with Renko bars in panel 1 and time-based bars in panel 2.

I have a strategy which, at the moment, is totally dependent on the Renko bars. But ideally, it would depend on the Renko bars for entries and the time-based bars for exits using a trailing stop.

How can I bring this about? I'm guessing this must have something to do with 'multi-instrument' techniques, but I'd be very grateful for any specific pointers.

Thanks very much in advance.

[NinjaTrader_Matthew]

Hello,

You are on the right track: you would need a multi-instrument script to accomplish this.

Please have a look at our reference sample on Entering on one time frame and exiting on another:

http://www.ninjatrader.com/support/forum/showthread.php?t=5787

I would also suggest studying the information from our Help Guide under Multi-Time Frame & Instruments:

http://www.ninjatrader.com/support/helpGuides/nt7/multi_time_frame__instruments.htm

[arbuthnot]

Thanks very much, Matthew. I obviously need to study these in depth.

But just for the moment, just one question: are there any additional complications if the Bars objects are of different types, in this case: Renko and time-based? (In the examples, they are both time-based.)

The main reason I'm asking this is that Renko and minute bars are usually very much 'out of sequence', and I'm wondering of this might have an impact.

Again, much obliged for any ideas.

[NinjaTrader_Matthew]

Yes, it's critical to understand how the OHLC data will be references in a multi-series script.

The High[2] renko is not necessarily the same bar High[2] on a minute interval.

I would recommend taking some time Printing values to get a grasp on how this data is going to be referenced and take note of what could potentially affect your strategy.

[arbuthnot]

Thanks again, Matthew. I've noted all the points you've made. There's a lot of study to be done here.

Cheers.