ForexSmartBot

Requirements and Specifications for Forex Trading Robot

Technical Requirements:

1. Software & Libraries:

   • MetaTrader 5 trading platform.
   • Python programming language (preferably version 3.7+).
   • MetaTrader5 Python API library.
   • Data processing libraries like pandas and numpy .

2. Hardware:

   • A computer or VPS with stable internet connectivity for uninterrupted trading.
   • Minimum specifications:
     • 4 GB RAM.
     • Dual-core processor.
     • 20 GB free disk space.

3. Broker Account:

   • A live or demo MetaTrader 5-compatible broker account.
   • Ensure the broker supports automated trading.

4. Forex Pair Data:

   • Access to real-time data for the target currency pairs (e.g., EUR/USD).
   • Historical data for backtesting (minimum 6 months recommended).

Functional Specifications:

1. Trading Logic:

   • Implements a simple moving average (SMA) crossover strategy.
   • Buys when the short-term SMA crosses above the long-term SMA.
   • Sells when the short-term SMA crosses below the long-term SMA.

2. Risk Management:

   • Lot size: Configurable (e.g., 0.1).
   • Stop-loss: 20 pips from entry price.
   • Take-profit: 40 pips from entry price.
   • Slippage: Default at 5 points.

3. Trade Execution:

   • Executes buy/sell orders based on signals.
   • Uses the order_send function with parameters:
     • trade_action : Buy or Sell.
     • volume : Lot size.
     • tp and sl : Configurable stop loss and take profit.

4. Data Handling:

   • Retrieves historical data for analysis (200 candles).
   • Updates real-time data every trading period.

5. Logging & Reporting:

   • Logs each trade with details:
     • Entry price.
     • Exit price.
     • Profit/loss.
   • Reports errors, such as API connectivity issues.

6. Scalability:

   • Supports additional currency pairs or assets.
   • Easy customization for other strategies.

Non-Functional Specifications:

1. Performance:

   • Low latency to minimize slippage.
   • Quick decision-making for real-time trades.

2. Security:

   • API credentials securely stored.
   • Only trades with predefined parameters allowed.

3. Robustness:

   • Handles exceptions (e.g., internet loss, broker server downtime).
   • Error handling for invalid responses from the MetaTrader API.

4. Backtesting & Optimization:

   • Compatible with historical data for strategy testing.
   • Outputs performance metrics (e.g., win rate, drawdown, ROI).

Deployment Requirements:

1. Environment Setup:

   • Python environment with required dependencies installed.
   • MetaTrader 5 platform configured and authorized with broker credentials.

2. Execution Mode:

   • Automated execution during active market hours.
   • Option to switch to manual control.

3. Maintenance:

   • Regular updates to adapt to market conditions.
   • Periodic review of trading logic and risk parameters.

Let me know if you'd like any section elaborated or adjusted!