Sharp Shooter EA V3.0 MT4

Let’s break down the valuable information about the Sharp Shooter EA V3.0 for MT4. 

Overview

The Sharp Shooter EA V3.0 is an expert advisor (EA) that aims to capture profitable trades in the forex market. It combines technical analysis with a specific trading strategy to execute trades automatically. Let’s delve into its features and strategy.

Key Features

• Trade Panel: The EA includes a user-friendly trade panel that allows manual trading alongside its automated functionality.
• Currency Pairs: It primarily trades the EURUSD and GBPUSD pairs on a daily basis.
• Retroactive Stop Loss (SL): The EA employs a retroactive stop loss based on price volatility. This dynamic SL adapts to market conditions.
• Profitable Backtests: Historical backtesting over the past 20 years shows consistent profitability.
• Projected Monthly Profit: By default, the EA aims for a monthly profit range of 3-5%.
• Recommended Account Size: To effectively use the Sharp Shooter EA, consider starting with an account size of $3,000.
• Leverage Recommendation: Optimal leverage is 100:1.

Strategy

The core strategy of the Sharp Shooter EA revolves around the following principles:

1. News Trading: The EA is particularly active during news events. It capitalizes on price movements triggered by major economic announcements.
2. Intraday Trading: It operates on short timeframes, specifically M1 (1-minute) or M5 (5-minute). This intraday approach allows for quick execution of trades.
3. Technical Analysis: The EA uses technical indicators and price patterns to identify entry and exit points. It aims to catch short-term trends.
4. Risk Management: The retroactive stop loss dynamically adjusts based on market volatility, helping to limit losses.