Difference between strategy and indicator

[JangoFolly]

Hi. What are the substantive differences between implementing an automated trading program (CS file) as a strategy versus an indicator? I have the framework of a system that I've been developing already coded as an indicator. It currently contains the triggers and filters and needs order placement and management code added to it.

I want to be sure that if I implement an automated trading program via an indicator that I'm not missing out on functional aspects of NT's backtesting features, etc.

Thank you.

[NinjaTrader_Ray]

- Only strategies can be backtested (with embedded indicators of course)
- Indicators can not submit orders
- Indicators do not support multiple time frame and instrument bars objects
- Indicators do not support automated trading only strategies do

[JangoFolly]

- Only strategies can be backtested (with embedded indicators of course)
- Indicators can not submit orders
- Indicators do not support multiple time frame and instrument bars objects
- Indicators do not support automated trading only strategies do

That does kinda make it a no-brainer for going with the strategy route.

Running strategies do not have any connection with a particular chart, correct (i.e., they are run in a different workspace)? For example, if I have indicators in a strategy, can they appear on a chart or not? Since the indicators that drive my triggers are tick-based, I would prefer not to have one whole set running to drive the charts and a second set running to drive the strategies (for processor load). I hope I'm making myself clear.

Thanks, Ray.


Regards,

William

[NinjaTrader_Ray]

Yes, that's clear. Just embedd the indicator in the chart for display purposes via the Add() method.

http://www.ninjatrader-support.com/HelpGuideV6/Add1.html