what are the Min requirements (hardware and software) to write code that can track specific coloured-object?
Computer Vision is a complicated subject. This isn't really a question that can be answered as it is.
Tracking objects depends a lot on
- The parameters of the object (i.e. consistant colour, reflective, distance and angle relative the viewer and so on)
- The requirements of the tracking (i.e. accuracy, sampling rate, no of objects to track etc).
- Environmental parameters such as lighting etc
As such, your hardware requirments to run tracking code will vary enourmously. For the very simplest situation, you can track a moving object with 1970s technology.
For the hardest real-life situations, even cutting edge technology may not be enough.
The software is hard to even discuss without knowing the full requirement.
(if you're actually talking about a development environment for writing code, this depends on what you're trying to do, what tools you're using and so on, which should all be decided first).
Here's a little code that does color tracking using openframeworks (which uses OpenCV)
http://wiki.openframeworks.cc/index.php?title=Color_Tracking