Shark EA

Forex trading can be quite a complex and challenging endeavor, requiring traders to stay with the correct market trends and make quick decisions in real time. Many forex traders and investors turn to automated trading systems like Shark EA for MT4 to enhance their chances of success.

Shark EA is a powerful tool that uses modern algorithms to analyze market trends and execute trades based on pre-set parameters. The system is designed to work with the popular MT4 trading platform, allowing traders to integrate it into their trading strategies easily.

This guide will discuss how the Shark EA works in MT4, including its key features.

Shark EA Strategy

Shark EA depends on fixed support/resistance based on pivot points to determine potential market entry levels. Also, it engages the ATR indicator to calculate possible take-profit targets as well as stop-loss limits.

Shark EA for MT4
Shark EA for MT4

However, based on your trading strategy and account balance, you can set the default initial trading lot and fixed SL/TP limits. The system is designed to work with the popular MT4 trading platform, allowing traders to integrate it into their trading strategies easily.

Shark EA Features

  • ATR filter for SL and TP calculation.
  • Supports Sunday trading.
  • Generates automatic comments on each trade.
  • Automatic risk management features.
  • Fixed/auto lot trading.
  • Sound and e-mail alerts.
  • Slippage and spread limits.

Shark EA MT4 Settings

  • Bait Lots – Fixed trading lot size.
  • Fishing Lots Multiplier – Set a multiplier for auto lot calculation.
  • Slippage In Pips – Maximum pips allowed as slippage while executing an entry.
  • Magic Number 1st Order – Unique magic ID for the first order.
  • Magic Number 2nd Order – Unique magic ID for the second order.
  • Orders Comment – Enable/disable AI-generated comments on trades.
  • Trade On Sunday – Enable/disable the EA to trade on Sunday.
  • ATR Filter – Activate/deactivate the Average True Range Filter.
  • Timeframe To Calculate ATR – Set a specific timeframe for calculating ATR.
  • Bars To Calculate ATR – Number of price bars to consider for calculating ATR.
  • General ATR Multiplier – Input a fixed ATR multiplier value.
  • Take Profit ATR Multiplier – ATR multiplier for determining TP targets.
  • Stop Loss ATR Multiplier – ATR multiplier for determining SL limits.
  • Max Mins Wait To Go Fishing – Maximum time to wait for a market entry opportunity before the EA automatically pauses market monitoring.
  • Max Mins To Keep The Bait – Maximum holding period of an open position.
  • Max Mins To Keep Fishing – Set an active hour/period for the EA.
  • Risk Management – Enable/disable the automatic risk management feature.
  • Fixed TP – Set fixed take-profit target for each order.
  • Fixed SL – Set a fixed stop-loss limit for each order.
  • Trailing Stop – Activate/deactivate the automatic trailing stop feature.
  • Default Trailing Stop – Set a fixed period value for trailing stop placement.
  • Maximum Spread – Spread limit for trading (buy & sell).
  • Maximum Orders – The highest number of open orders allowed at a time.
  • Margin Percentage – Minimum account margin level to be maintained to keep on trading.
  • Sound Alert – Enable/disable sound alert on potential trading activities.
  • E-mail Alert – This enables you to receive trade alerts via email.

Shark EA Summary

If you are a Forex trader and looking to improve your trading performance by reducing the impact of emotions on your decision-making, Shark EA for MT4 can be a worthwhile tool to consider. With its advanced algorithms and 24/7 operation, Shark EA offers a powerful way to assess market bias and execute trade entries based on pre-set parameters, helping you carry out daily trading activities without manual intervention.

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