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How to prepare Requirements Specification when ordering an indicator Why is it important to have a well-prepared Requirements Specification? When ordering or developing a trading robot, you need to formulate requirements: tasks to be performed by the robot, conditions under which it will operate, response to incidents and emergency situations, required control methods, etc.

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Trading robots are programs, which should strictly follow the underlying logic. In order to program the algorithm of actions, you should prepare its detailed description. Description of a trading strategy is provided in the form of Requirements Specification. The more details you provide, the less misunderstanding will occur between you the Customer and the programmer the order Developer.

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The important part of Requirements Specification for an Expert Advisor is presentation of clear formal trading rules.

Even if you are not ordering an EA, but want to develop one yourself, you should start with the definition of these rules.

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Add hypotheses, which you will use to check the quality and stability of your trading strategy, describe criteria for selecting the optimal parameters and explain why you consider them important. Include all EA trading robot order stages to the Requirements Specification — this will make the algorithm idea clear for the Developer, and will help you recall the details weeks, months, or even years later.

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Algo trading is not a hobby, but a thorough research path, all stages of which need to be properly documented. A trading system development diary will be very useful whenever you'll need to test a new idea. 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.

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The below figure shows Buy and Sell cases. Positions are closed at opposite signals: Buy positions are closed at Sell signals, and Sell positions are closed at Buy signals.

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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.

These applications are referred to as trading robots ; they can analyze quotes of financial instruments, as well as execute trade operations on the Forex and exchange markets. Trading robots can perform operations on financial markets and as a result, a trader can be completely replaced. This development environment covers the entire cycle of trading application development, allowing the trader to create, debug, test, optimize, and execute trading robots. How to acquire a trading robot for MetaTrader 5? Forex VPS enables uninterrupted operation of trading robots 24 hours a day You can enjoy to the maximum all the advantages of trading robotseven if you do not have any programming background.

Close by Take Profit — during position opening, a Take Profit level is set at a fixed distance from the open price, specified in points. The value is set in the InpTakeProfit input parameter.

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Position management TrailngStop is used to protect profit. Stop Loss is set if profit in points exceeds the value specified in the InpTrailingStop parameter.

Confirms the selection of the contractor for implementing the job. Confirms the agreement for the implementation of the job. Confirms the final price and the job implementation time.

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. 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.

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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. Exact numbers or calculation algorithms are not required in the idea description.

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So, in this example we do not need to explain how to determine: resistance level, level breakout, the concept of "is likely to". Some abstraction at the initial stage will help focus on the idea rather than on technical details. This way you can generate multiple modifications of your trading strategy by replacing or combining strategy blocks, indicators and filters. With the common general idea, you will use different input parameters for your trading robots. Next, you need to describe all terms and concepts contained in the idea description.

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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 parametersand can be optimized in the Strategy Tester.

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.

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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.

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It provides the description trading robot order 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 trading robot order 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.