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Specification
Requirements Specification.
1. Indicator 1:
a. This indicator will be used to give a zoomed-out analysis of the market, and will clearly show any weak, strong or steady instrument.
b. It requires a special formula, as created by the developer, used to identify trend, volume and volatility of a single instrument, which will be summarised in a single value with several decimal points.
c. In order to determine the trend, volume and volatility of a single instrument, the formula must consider the trend, volume and volatility of the other instruments found on the same market.
d. To clarify, examples of instruments are: USD, GOLD, APPLE STOCK, BRENT OIL AND BITCOIN; and an instrument is individual and NOT paired with another instrument.
e. There must be an additional value that identifies the overall momentum of the market.
f. At least 9 dynamic fibonacci levels must also be part of the indicator, and they will be used as triggers to identify certain opportunities. The exact levels of these 9 dynamic fibonacci levels will be specified at the following stage.
g. Visual representation:
i. The indicator must provide a visual representation of: the values of the market instruments; the overall market momentum value; and all of the dynamic fibonacci levels.
ii. The visual representations must show a clear visual/coloured difference between each of these values.
iii. All of the visual representations must be available and easily selected on any timeframe that MT5 offers; and we must be able to view several visual-representations of different timeframes at once (for example, when we want to perform multi-timeframe analysis).
iv. These values must be displayed numerically in the indicator window for each separate candle (on any timeframe) when touched by the cross hair.
h. Indicator parameters and alerts must include:
i. When referring to the values of the market instruments, the ultimate candle close value must be constantly subtracted from the penultimate candle close value, and when this result is greater than x, then an arrow should appear (we can specify the value of x). If it so occurs, this can happen on many simultaneous candles but the arrow can never appear until the candle has closed. There should be 2 separate parameters for x here: one for weakness/downwards movement (downwards arrow – negative value), and one for strength/upwards movement (upwards arrow – positive value). There must be a true and false option and this should apply to whichever timeframe the indicator is on. These arrows should never disappear and its colour should match with the colour of the instrument line it is associated to.
ii. When specific dynamic fibonacci levels have been crossed (from above to below, or below to above) by either the market instruments or the overall market momentum, an arrow should appear (we can choose which levels, and we can choose all). The arrow can never appear until the candle has closed. There must be a true and false option. These arrows should never disappear and its colour should match with the colour of the instrument line or overall market momentum line it is associated to.
iii. When the value lines of any x2 market instruments cross each other, then the section where the cross occurred should be highlighted in some way (perhaps with a thicker line and in a contrasting colour that has not been used before by any value line). This can never appear until the candle has closed. There must be a true and false option and this should never disappear.
iv. On screen messages (with and without alarms), and email and push alerts for the three points described above. With true and false option.
v. Colours, line thickness and line styles (continuous, dotted etc.) used to display: the values of the market instruments; the overall market momentum value; and all of the dynamic fibonacci levels, must be chosen by us.
vi. For computer processing reasons, we must be able to select how many candles we can see in the past.
vii. We are open to more suggestions upon your recommendations.
2. Indicator 2:
a. This indicator will be used to give a zoomed-in analysis of the market, and will clearly show the speed/momentum of any market instrument.
b. It requires a special formula, as created by the developer, used to identify momentum of a single instrument, which will be summarised in a single value with several decimal points.
c. In order to determine the momentum of a single instrument, the formula must consider the momentum of the other instruments found on the same market.
d. To clarify, examples of instruments are: USD, GOLD, APPLE STOCK, BRENT OIL AND BITCOIN; and an instrument is individual and NOT paired with another instrument.
e. At least 9 dynamic fibonacci levels must also be part of the indicator. The exact levels of these 9 dynamic fibonacci levels will be specified at the following stage. These 9 levels, will be used as the basis for 2 additional values that will serve as triggers to identify downwards or upwards momentum.
f. Visual representation:
i. The indicator must provide a visual representation of: the momentum values of any market instrument; the 9 dynamic fibonacci levels; and the 2 trigger values mentioned in the previous point
ii. The visual representations must show a clear visual/coloured difference between each of these values
iii. All of the visual representations must be available and easily selected on any timeframe that MT5 offers; and we must be able to view several visual-representations of different timeframes at once (for example, when we want to perform multi-timeframe analysis).
iv. These values must be displayed numerically in the indicator window for each separate candle (on any timeframe) when touched by the cross hair.
g. Indicator parameters and alerts must include:
i. We must be able to set the sensitivity of the momentum of the market instruments, please provide 3 speed/sensitivity types: high, medium and low.
ii. For computer processing reasons, we must be able to select how many candles we can see in the past.
iii. We must be able to set the fibonacci trigger values (mentioned in 2E). There should be 2 separate value options: one for downward momentum (negative value), and one for upward momentum (positive value).
iv. When these fibonacci trigger values have been crossed (from above to below, or below to above), an arrow should appear. If it so occurs, this can happen on many simultaneous candles. We need 2 options: for this alert to appear either when the candle has closed, or when it is in progress (instantly). There must be a true and false option. These arrows should never disappear and its colour should match with the colour of the instrument line it is associated to.
v. On screen messages (with and without alarms), and email and push alerts for point iv described above. With true and false option.
vi. Colours, line thickness and line styles (continuous, dotted etc.) used to display the: momentum values of any market instrument; the 9 dynamic fibonacci levels; and the 2 trigger values (mentioned in 2E), must be chosen by us.
vii. We are open to more suggestions upon your recommendations.
3. Both indicators must automatically detect and be completely functional with all the available symbols in the Market Watch provided by MT5. These symbols must include any instrument from any market including forex, stocks, metals, commodities & crypto, among others. The x2 indicators must not require a particular chart to be open for them to be completely functional; to obtain a visual representation, we will simply open the desired chart and load the indicators on them.
4. Our EA must be able use the x2 Indicators, call the values 100% precisely every time and for all timeframes offered by MT5, and the code to do this must be provided.
5. The platform’s data for every associated chart (to the indicators) must be automatically updated every M1 candle so that the indicators work with reliable data ensuring no imprecise data is used by the indicators.
6. MQL5 Language and source code must be provided
7. Multi-symbol back-testing must be possible
8. Effectiveness must be obvious from an objective point of view. This effectiveness will be determined after the following is carried out (to be considered the criteria for the demonstration stage of this job):
a. At random, we (the client) will select several trading days on several different markets
b. We (the client) will analyse several moments of each trading day to verify that (at the exact same time) the chart’s price movements behaved in the same way the x2 indicators demonstrated, as per the specifications mentioned previously.
c. We only (the client) will choose the number of: trading days; different markets; and moments of each trading day.
9. Everything specified in all of the points above must be functional and effective with any market: forex, stocks, metals, commodities & crypto, among others.
10. As we stated, upon completion of the project according to all the above points of this requirement specification, we will pay 400USD, and we will be happy to give an additional bonus of 100USD (total 500USD) if it is completed on time with no arbitration.