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We want to create a community where we can create robots and have constructive experiences that we can contribute and that you contribute to us.
Do you send signals to telegram? We can send photos, signals from mt4 to telegram.
-------------------PLEASE READ RULES--------
Requirements Specification examples
Here is an example of Requirements Specification for the development of the MACD Sample Expert Advisor, which is available in the MetaTrader 5 standard package.
1. The idea of the trading system is as follows: market entries are performed when MACD's main and signal lines intersect in the current trend direction.
2. Trend is determined based on the Exponential Moving Average with the specified period (InpMATrendPeriod). If the current EMA value is greater than the previous one, the trend is seen as growing (ema_current > ema_previous). Alternatively, if current EMA is below the previous one, the trend is considered to be falling (ema_current< ema_previous).
3. Trading Signals:
5. Positions are opened at the market price, when a new bar emerges. The Expert Advisor is to be tested using Open prices, so there is no need to add functions for disabling operations inside the bar.
6. Additional filters for opening a position:
The absolute value of MACD's main line will be used to filter out weak signals: the signal is only confirmed if this value is greater than open_level (in points). Signal confirmation conditions are as follows:
7. Additional filters for closing a position:
The absolute value of MACD's main line will also be used to confirm position closure: the signal is confirmed if this value is greater than close_level (in points). Close signal confirmation conditions are as follows:
9. Position management
TrailngStop is used to protect profit. Stop Loss is set if profit in points exceeds the value specified in the InpTrailingStop parameter. If the price continues to move in the profit direction, Stop Loss should be trailed at the given distance. Stop Loss cannot be moved towards the loss direction, i.e. the Stop Loss value cannot be increased. If none of protective orders (Take Profit or Stop Loss) triggers, the position should be closed by an opposite signal. No other position exit methods are available.
What is contained in the Requirements Specification?
Trading idea
Describe the general underlying idea in the first part of the Requirements Specification. Example: "If the price approaches the resistance level twice and rolls back from it, the next time it is likely to break resistance." Here you can add a chart with the resistance/support lines, indicators and explanatory notes. Exact numbers or calculation algorithms are not required in the idea description. So, in this example we do not need to explain how to determine:
Next, you need to describe all terms and concepts contained in the idea description. If trend is important for your strategy, clearly define what indicator should be used to determine the trend direction and strength. The numerical characteristics of these definitions form the basis of Expert Advisor's input parameters, and can be optimized in the Strategy Tester. So, the first section of the Requirements Specification is "The Trading Idea".
Terms and definitions
It is recommended to create a separate section in the Requirements Specification for explaining related terms and definitions. Explain terms in separate paragraphs. Use bold font to highlight the key concepts of your trading strategy. Where applicable, you may add an image. Input parameters of the desired EA can be written in italics.
Trading signals
This is the most important section of Requirements Specification. It provides the description of conditions, market states and indicator values, under which a Buy deal should be performed. To describe each condition required for generating a Buy signal, choose the numeric parameter affecting the emergence of a signal. For example, this may be the smoothing type and period for a Moving Average. These important parameters will be used as your Expert Advisor's input parameters.
Provide a separate description of sell conditions, even if they are opposite to buying. This may have specific features, which the programmer may misinterpret. For example, your Buy condition may be set to "Value > 0". Make sure to indicate an exact condition for selling, such as "Value < 0" or "Value <= 0".
Additional conditions and filters are often used for confirming or canceling trading signals. Use screenshots for various market situations with the visual explanation of indicators and setups. In future, such visualization may help you to analyze situations, when your EA ignores a seemingly obvious signal or
performs a deal at an unfavorable moment.
Screenshots and flow charts
You may use any of free programs for creating screenshots and flow charts.
The lifetime of signals/orders/positions
The second important part of a trading strategy is exiting an open position and deleting pending orders. Trading signals can also be canceled after some time or under certain events. Therefore, you need to describe conditions to close a buy/sell position, remove a pending order or cancel a signal.
Management of open positions and pending orders
If your trading strategy implies closing by Stop Loss and Take Profit, describe the calculation algorithm. Optionally, you can request a trailing mechanism for a flexible modification of these levels. In this case, you need to describe Trailing Stop conditions and algorithms. SL/TP modification can be performed at a bar opening or on every tick.
We want to create a community where we can create robots and have constructive experiences that we can contribute and that you contribute to us.
Do you send signals to telegram? We can send photos, signals from mt4 to telegram.
-------------------PLEASE READ RULES--------
Requirements Specification examples
Here is an example of Requirements Specification for the development of the MACD Sample Expert Advisor, which is available in the MetaTrader 5 standard package.
1. The idea of the trading system is as follows: market entries are performed when MACD's main and signal lines intersect in the current trend direction.
2. Trend is determined based on the Exponential Moving Average with the specified period (InpMATrendPeriod). If the current EMA value is greater than the previous one, the trend is seen as growing (ema_current > ema_previous). Alternatively, if current EMA is below the previous one, the trend is considered to be falling (ema_current< ema_previous).
3. Trading Signals:
- Buy signal: the main MACD line crosses the signal line upwards (macd_current>signal_current && macd_previous<signal_previous).
- Sell signal: the main MACD line crosses the signal line downwards (macd_current<signal_current && macd_previous>signal_previous). The below figure shows Buy and Sell cases.
5. Positions are opened at the market price, when a new bar emerges. The Expert Advisor is to be tested using Open prices, so there is no need to add functions for disabling operations inside the bar.
6. Additional filters for opening a position:
The absolute value of MACD's main line will be used to filter out weak signals: the signal is only confirmed if this value is greater than open_level (in points). Signal confirmation conditions are as follows:
- Confirmation of a buy signal: Abs(macd_current)>open_level
- Confirmation of a sell signal: macd_current>open_level
7. Additional filters for closing a position:
The absolute value of MACD's main line will also be used to confirm position closure: the signal is confirmed if this value is greater than close_level (in points). Close signal confirmation conditions are as follows:
- Confirmation to close Buy positions — macd_current>close_level
- Confirmation to close Sell positions — Abs(macd_current)>close_level
9. Position management
TrailngStop is used to protect profit. Stop Loss is set if profit in points exceeds the value specified in the InpTrailingStop parameter. If the price continues to move in the profit direction, Stop Loss should be trailed at the given distance. Stop Loss cannot be moved towards the loss direction, i.e. the Stop Loss value cannot be increased. If none of protective orders (Take Profit or Stop Loss) triggers, the position should be closed by an opposite signal. No other position exit methods are available.
What is contained in the Requirements Specification?
Trading idea
Describe the general underlying idea in the first part of the Requirements Specification. Example: "If the price approaches the resistance level twice and rolls back from it, the next time it is likely to break resistance." Here you can add a chart with the resistance/support lines, indicators and explanatory notes. Exact numbers or calculation algorithms are not required in the idea description. So, in this example we do not need to explain how to determine:
- resistance level,
- level breakout,
- the concept of "is likely to".
Next, you need to describe all terms and concepts contained in the idea description. If trend is important for your strategy, clearly define what indicator should be used to determine the trend direction and strength. The numerical characteristics of these definitions form the basis of Expert Advisor's input parameters, and can be optimized in the Strategy Tester. So, the first section of the Requirements Specification is "The Trading Idea".
Terms and definitions
It is recommended to create a separate section in the Requirements Specification for explaining related terms and definitions. Explain terms in separate paragraphs. Use bold font to highlight the key concepts of your trading strategy. Where applicable, you may add an image. Input parameters of the desired EA can be written in italics.
Trading signals
This is the most important section of Requirements Specification. It provides the description of conditions, market states and indicator values, under which a Buy deal should be performed. To describe each condition required for generating a Buy signal, choose the numeric parameter affecting the emergence of a signal. For example, this may be the smoothing type and period for a Moving Average. These important parameters will be used as your Expert Advisor's input parameters.
Provide a separate description of sell conditions, even if they are opposite to buying. This may have specific features, which the programmer may misinterpret. For example, your Buy condition may be set to "Value > 0". Make sure to indicate an exact condition for selling, such as "Value < 0" or "Value <= 0".
Additional conditions and filters are often used for confirming or canceling trading signals. Use screenshots for various market situations with the visual explanation of indicators and setups. In future, such visualization may help you to analyze situations, when your EA ignores a seemingly obvious signal or
performs a deal at an unfavorable moment.
Screenshots and flow charts
You may use any of free programs for creating screenshots and flow charts.
The lifetime of signals/orders/positions
The second important part of a trading strategy is exiting an open position and deleting pending orders. Trading signals can also be canceled after some time or under certain events. Therefore, you need to describe conditions to close a buy/sell position, remove a pending order or cancel a signal.
Management of open positions and pending orders
If your trading strategy implies closing by Stop Loss and Take Profit, describe the calculation algorithm. Optionally, you can request a trailing mechanism for a flexible modification of these levels. In this case, you need to describe Trailing Stop conditions and algorithms. SL/TP modification can be performed at a bar opening or on every tick.
