Sharp Shooter EA V1.1 MT4: The Ultimate Forex Scalping Robot

By: Payel

Published on: Apr 03, 2025

Introduction

In the fast-paced world of forex trading, precision and speed are crucial for success. Sharp Shooter EA V1.1 MT4 is designed to provide traders with an advanced scalping strategy that maximizes profits while minimizing risks. Whether you're a beginner or an experienced trader, this expert advisor (EA) helps automate your trades with unparalleled accuracy. In this guide, we’ll dive deep into its features, trading strategy, recommended settings, and why it stands out among other forex EAs.

What is Sharp Shooter EA V1.1 MT4?

Sharp Shooter EA V1.1 is an automated trading software built for the MetaTrader 4 (MT4) platform. It utilizes high-frequency scalping techniques to capitalize on small price movements in the forex market. The EA is designed to identify high-probability trade setups, execute trades instantly, and apply effective risk management strategies. This ensures that traders can achieve consistent profitability with minimal intervention.

Key Features of Sharp Shooter EA V1.1 MT4

• Advanced Scalping Algorithm – Optimized for short-term trading, capturing quick price movements.


• Smart Entry & Exit Strategy – Uses a combination of moving averages, RSI, and Bollinger Bands for precise trade execution.


• Risk Management Controls – Includes stop-loss, take-profit, and trailing stop features to safeguard capital.


• Lightning-Fast Execution – Ensures minimal slippage with its rapid order execution system.


• Fully Automated Trading – Eliminates manual trading, allowing traders to focus on strategy and market analysis.


• User-Friendly Interface – Simple setup with customizable settings for different trading styles.

How Sharp Shooter EA V1.1 MT4 Works

Sharp Shooter EA V1.1 operates by analyzing market trends, identifying optimal entry points, and placing trades based on preset rules. The EA scans multiple indicators to detect momentum shifts and executes trades at the most favorable prices.

Trading Strategy

The EA follows a scalping strategy, which involves:

1. Identifying Market Trends – Uses trend indicators like Moving Averages and RSI to determine market direction.


2. Spotting High-Probability Entries – The EA waits for price pullbacks before entering trades, ensuring better risk-to-reward ratios.


3. Quick Profit Targets – Trades are closed within minutes, reducing exposure to market volatility.


4. Risk Mitigation – Every trade includes stop-loss and take-profit levels to minimize losses and secure profits.

This strategy is particularly effective in high-liquidity markets such as the EUR/USD, GBP/USD, and USD/JPY currency pairs.

Recommended Settings for Optimal Performance

• Minimum Deposit: $250


• Timeframe: M5 or M15 (for best scalping results)


• Currency Pairs: EUR/USD, GBP/USD, USD/JPY, and other major forex pairs


• Leverage: 1:200 or higher


• Broker Type: ECN or low-spread brokers for optimal execution


• Lot Size: Adjustable based on account balance and risk preference

Pros and Cons of Sharp Shooter EA V1.1 MT4

✅ Pros:

✔️ High-frequency trading with precise entries and exits.

✔️ Works on multiple currency pairs, increasing trading opportunities.

✔️ Uses advanced risk management techniques to protect capital.

✔️ Fully automated, reducing manual workload for traders.

✔️ Suitable for both beginners and experienced traders.

❌ Cons:

❌ Requires a stable internet connection and a reliable VPS for continuous operation.

❌ Works best with low-spread brokers, limiting broker choices.

❌ Not ideal for traders who prefer long-term trading strategies.

How to Install and Use Sharp Shooter EA V1.1 MT4

1. Download the EA and save it to your computer.


2. Move the EA file into the Experts folder in your MT4 directory.


3. Restart MetaTrader 4 to detect the newly installed EA.


4. Open the Navigator panel and locate Sharp Shooter EA V1.1.


5. Drag and drop the EA onto your preferred chart.


6. Adjust settings based on your trading preferences.


7. Enable Auto Trading and let the EA take over your trades.

By following these steps, traders can quickly set up Sharp Shooter EA V1.1 MT4 and start trading profitably with minimal effort.

Performance and Backtesting Results

One of the key strengths of Sharp Shooter EA V1.1 MT4 is its proven performance. Backtesting results indicate that the EA has consistently achieved a high win rate with low drawdown, making it one of the most reliable scalping EAs available.

In live trading scenarios, traders have reported:

• 80%+ accuracy in trade execution


• Low drawdown rates (below 10%) ensuring minimal risk exposure


• Consistent profits when used with optimal settings

This makes the Sharp Shooter EA V1.1 MT4 a solid choice for traders who want a dependable forex robot.

Conclusion

Sharp Shooter EA V1.1 MT4 is an excellent trading tool for those looking to profit from small price movements in the forex market. With its advanced scalping strategies, effective risk management, and high execution speed, it provides a strong edge in the market.

If you're a trader seeking a fully automated, profitable, and user-friendly forex EA, Sharp Shooter EA V1.1 MT4 is worth considering.

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