better understanding the Renko Trading Strategy NT8 - RenkoStrategy

[jazzydee]

greetings !

i would like to add a couple items to this existing strategy found here - https://ninjatraderecosystem.com/use...-strategy-nt8/ created by NinjaTrader_Jim

1 - a check for certain trading times according to a schedule
2 - a sound notification played each time the trailing stop moves - same as the ATMs

in trying to figure this out i was surprised to find several arrays used in the code and could not locate where the trailing stops were generated besides the initial call to settrailstop().. is there a way to enable the ca-ching sound with this ? the reference text doesnt address..

i understand basically what an array is but confused why it was utilized.. would you kindly describe why several array structures are used in this strategy.. what does each do ? ideally comments could be located within the script code and attached to this forum to describe workings ?

thanks so much !

[NinjaTrader_Kate]

Hello jazzydee,

Thank you for your note.

As far as setting up time filters, I like to create those in the Strategy Builder then unlock the code and copy my created filter conditions into my strategy.

An example of setting up a time filter in the Strategy Builder may be found here:

https://ninjatrader.com/support/helpGuides/nt8/index.html?strategybuilder_condition_builder.htm#HowToCreateTimeFilters

There would not be a direct method to play a sound when SetTrailStop updates. You could create logic that each time a new price that's higher than the highest seen since the entry for a buy is seen, or vice versa for a short position, then play a sound using PlaySound(), but there's no overload for SetTrailStop to do that automatically.

As far as the arrays, these are used to hold bools that are assigned when the bars are checked to see if they are rising or falling. These are then checked to see whether they are all true for the last EntryStrength (or ExitStrength, if UseExitStrength is true) and if so, an order appropriate to the direction of the trend is submitted.

SetTrailStop would need to only be called once, in State.Configure, and would then apply to all trades taken if UseTrailStop is true.

Please let us know if we may be of further assistance to you.