It conforms closely to actual football man to man coverage rules. WR1 is outside (right in this game, can be left), WR2 is outside left (NOTE, this can be a TE), WR 3 is farthest out after these two (symmetric formation, same side as WR1, asymmetric form - strong side), WR 4 farthest out, opposite of WR3, WR5 is closest eligible receiver to QB.
Sounds complicated but I have coached 12 year olds who get it after being shown it once.