Introduction
Sharpshooter EA is a precision-driven automated trading system developed for the MetaTrader 4 platform, primarily engineered to scalp price movements on the EUR/USD pair. It employs a strategy built around single, well-considered trade entries rather than frequent repeated entries, aiming for consistent, modest profits with controlled risk.
Strategy and Entry Logic
Sharpshooter EA follows a “one‑shot” trading philosophy: it enters a single trade per signal and avoids overtrading. The strategy relies on three technical indicators:
- Average True Range (ATR): used to assess current volatility and adapt stop-loss and take-profit levels dynamically.
- Awesome Oscillator (AO): gauges momentum to confirm trend direction and strength.
- Relative Strength Index (RSI): identifies overbought or oversold conditions and aligns entries with counter-momentum reversals when appropriate.
Entries are only triggered when all indicator criteria align, facilitating secured and well-timed scalping opportunities. Targets per trade tend to be tight, often between 5 and 15 pips.
Timeframe and Market Focus
The system is optimized for the EUR/USD pair on the 15‑minute (M15) chart. It incorporates a broader trend filter, typically derived from daily data, to ensure scalps occur in the direction of the main market trend. This alignment reduces high-risk counter‐trend exposure.
Trade Frequency and Duration
On average, Sharpshooter EA executes 5 to 10 trades per day when running under default parameters. Trade durations are short, generally around 1.5 hours, designed to capitalize on intraday movement while avoiding extended exposure.
Risk and Money Management Features
Sharp risk controls are integral to Sharpshooter EA’s architecture:
- Adaptive Stop-Loss: dynamically adjusts based on volatility signals from ATR to limit risk precisely.
- Fail-Safe Stop-Loss: enforces a maximum allowable loss threshold per account or trade sequence.
- Single-Entry Design: no martingale, grid, or averaging strategies; each signal leads to exactly one trade.
- Dynamic Position Sizing: adapts lot size and risk exposure based on market volatility and account status.
These mechanisms collectively support a disciplined risk framework with moderate drawdowns under typical conditions.
Performance Overview and Monitoring
Sharpshooter EA has been tracked via performance platforms which document cumulative returns, win rates, pips gained/lost, drawdown levels, and expectancy per trade. Example results include:
- Average win rate around 67% on both long and short trades.
- Expectancy around 0.7 pips per trade.
- Profit factor near 1.2, indicating net positive returns relative to risk.
- Average trade duration in the range of 3–4 hours (live account reported approximate data).
These metrics are derived from accounts with thousands of trades logged, demonstrating consistency over extended operating periods.
Backtesting and Modeling
High-precision backtesting results extend across multiple years, often simulating using 99.9% tick-level quality data, variable spreads, and realistic past market conditions. Historical analysis spans up to two decades for EUR/USD, revealing stable strategy behavior through various cycle phases.
Version History and Development
Key versions of Sharpshooter EA include v1.1 and v3.0, each designed for compatibility with modern MT4 builds (1440 and above). Newer releases emphasize cleaner strategy execution and refined risk controls. Development and support are typically managed by a small team of EA developers active in expert advisor marketplaces.
Compatibility and Requirements
Sharpshooter EA requires:
- MetaTrader 4 Build 1440 or newer installed.
- Access to EUR/USD price data and a brokerage account permitting scalping strategies.
- Standard VPS or local installation; the EA adheres to typical MT4 installation procedures.
While optimized for EUR/USD M15, some versions also support GBP/USD or other major currencies, depending on package configuration.
Summary
Sharpshooter EA is a technical, rules-based Expert Advisor designed for disciplined, single-entry scalping on the EUR/USD pair. It relies on ATR, AO, and RSI indicators to identify precise entries, employs strong risk controls, and avoids overtrading. Performance history reflects consistent short-duration profits, moderate trade frequency, and sound expectancy per trade. Backtesting and live monitoring underline the system’s ability to operate reliably across market conditions without employing aggressive strategies such as martingale or grid trading.
