Centro Turistico El Krique (open 11a.m.–7 p.m. weekdays, 11 a.m.–10 p.m. weekends closed Wed.) is a bit out of the way: just after the bridge over the Río Coco walk one kilometer east on the dirt road.
You will not be alone here, as its two very well-maintained swimming pools, games, and sporting equipment, trampoline, and soccer field are Ocotal [1]’s equivalent of the local country club. Eat here for about $8 after your swim.
Ocotal’s two discos compete for crowds Friday–Sunday. Discoteca Infinito (four blocks north of the cathedral) currently has the advantage over Disco Sky Dancing (three blocks south and one block west of the central park).
Ocotal celebrates its fiestas patronales August 14–15, when you can expect to find Ocotaleños blowing their hard-earned cash on horse shows, live music, gaming tables, and the like.
Links:
[1] http://www.moon.com/destinations/nicaragua/esteli/ocotal