FRZ Bitcoin Scalper – User Manual

Before You Start

  • Enable AutoTrading (MT4) or Algo Trading (MT5) in your trading platform.
  • Full versions require a valid license. The DEMO version needs no license (it runs in the Strategy Tester only).
  • The full version needs WebRequest access to https://frzserver.com (see the next section).
  • For MT5, use a hedging account. On a netting account the EA stops with the alert “FRZ Bitcoin Scalper MT5 requires a hedging account.”
  • Attach the EA to a BTC / Bitcoin symbol (for example BTCUSD, BTCUSD.a, BITCOIN, XBTUSD) on the M5 (5-minute) timeframe. On a live chart with another timeframe the EA switches the chart to M5 by itself.
  • Attach the EA to one chart only.
  • Test your settings in the Strategy Tester (M5) before using a live account.

WebRequest Setup

  1. Open Tools > Options > Expert Advisors.
  2. Tick Allow WebRequest for listed URL.
  3. Add this URL: https://frzserver.com
  4. Click OK and re-attach the EA if it was already on a chart.

The EA uses this address for the license check, live server analytics, the news calendar and update notices.

Installation

MT4 Installation

  1. Download the MT4 version of the EA and unzip it.
  2. In MT4, click File > Open Data Folder and copy the .ex4 file into MQL4/Experts.
  3. Restart MT4, or right-click Expert Advisors in the Navigator panel and select Refresh.
  4. Open a BTCUSD (or your broker’s Bitcoin symbol) M5 chart and drag the EA onto it. On the Common tab, tick Allow live trading.
  5. Click the AutoTrading button so it turns green.

MT5 Installation

  1. Download the MT5 version of the EA and unzip it.
  2. In MT5, click File > Open Data Folder and copy the .ex5 file into MQL5/Experts.
  3. Restart MT5, or right-click Expert Advisors in the Navigator panel and select Refresh.
  4. Open a BTCUSD (or your broker’s Bitcoin symbol) M5 chart on a hedging account and drag the EA onto it. On the Common tab, tick Allow Algo Trading.
  5. Click the Algo Trading button so it turns green.

Demo Version

The DEMO version is for the Strategy Tester only. Its limits:

  • Backtest only – on a live or demo chart it shows “FRZ Bitcoin Scalper DEMO works in Strategy Tester only.” and does not start.
  • No license check required.
  • Opens at most 20 initial trades per test (averaging and recovery trades of those baskets are still managed). After that the Journal shows “demo initial trade limit reached (20)” and the HUD shows Trade Limit: 20 Initial Trades.
  • Live server analytics are not available – a local validation model is used instead (the same as any backtest of the full version).
  • No news filter (settings 11-17 are not in the DEMO).

The full version can also be backtested. First attach it once to a live or demo chart so the license is verified online; then run the Strategy Tester. Until then the tester shows FULL VERSION BACKTEST LOCKED.

Quick Specifications

Product name FRZ Bitcoin Scalper
Platform supported MT4 & MT5 (MT5: hedging account)
Timeframes supported M5 only
Trading pair(s) BTCUSD / Bitcoin symbols (names containing BTC, BITCOIN or XBT)
Suitable market sessions Any (adjustable with EA Start/Stop Time)
Minimum leverage The higher, the better – use the highest leverage your broker offers on BTCUSD. However, 1:100 can be recommended as the bare minimum. Smart DCA Mode can hold up to 50 averaging trades plus recovery trades, so it needs much more free margin than Single Shot Mode. Consider increasing your deposit if your leverage is only at the bare minimum.
VPS requirement

This software needs to run 24/7. A Windows VPS is recommended unless you can keep your own PC running continuously 24/7 – For a VPS, we can recommend this VPS provider. You can purchase the cheapest VPS Windows package with this provider (4GB RAM is usually enough as a minimum). More instructions on buying and setting up VPS are given on our VPS page.

HUD / On-Chart Panel

FRZ Bitcoin Scalper HUD panel

The panel at the top-left of the chart shows the EA’s state. Long lines wrap onto the next line.

HUD Item Meaning
FRZ Bitcoin Scalper v… Product name and the version you are running.
Status MONITORING (green) – normal; the EA looks for trades and manages open ones.
RECOVERY MODE (orange) – the Drawdown Recovery Module is active (settings 18-24). Normal trading pauses until the recovery cycle ends.
DD PROTECTION (red) – the account drawdown reached Max DD % Allowed (setting 25). No new trades open until the EA is removed and attached again.
WRONG SYMBOL / WRONG TIMEFRAME (red) – backtest on a non-Bitcoin symbol or a timeframe other than M5. No trades are opened.
Symbol The chart symbol the EA trades.
Open Trades Number of this EA’s open trades on the symbol.
Balance / Open P/L / Current DD Account balance, the floating profit/loss of this EA’s trades (green when 0 or above, red when negative), and that loss as a % of the balance.
Recovery DD Limit Drawdown Recovery Threshold (setting 19).
Recovery Off (module disabled), Ready (enabled, waiting) or Active (recovering a drawdown). While active, Hedge Lots shows the total hedge lot size.
Live Spread Current spread. Green when it is within Max Spread (setting 7), red when it is wider – no new first trade opens then.
Server Live only. Green when the connection to frzserver.com works. Red means a connection problem – check the WebRequest setup.
News Filter / Next News Clear – no news pause; Paused (orange) – new trades wait for a news event to pass; Off – setting 11 is false. Next News lists the upcoming events. In a backtest: News Filter: Live only.

In the Strategy Tester the EA also shows a BACKTESTING LIMITATIONS notice at the bottom-right: “Live server analytics unavailable in backtester”, “Only a local validation model is used instead” and “News filter unavailable in backtester”. A wrong symbol or timeframe in a backtest shows WRONG SYMBOL/TIMEFRAME at the bottom-left with “Use BTCUSD / Bitcoin in Strategy Tester” and “Supports 5-minute timeframe only”.

Input Settings

FRZ Bitcoin Scalper input settings
Shown: the DEMO version, which has no News Filter Settings (11-17). The full version shows settings 1-26 including 11-17.

ATR below means ATR(100) on M5 – the average size of the last 100 five-minute candles, in price. On BTCUSD it is often somewhere around $100-$300. A basket means all of the EA’s open trades in one direction.

No. Setting Explanation
General Trading Settings
1 Trade Management Mode Smart DCA Mode (Recommended) (default): when the market moves against the first trade, the EA can add averaging trades (DCA – adding trades at better prices to lower the average entry), and all trades close together at one shared take profit.
Single Shot Mode: one trade at a time, no averaging. The trade closes at its take profit or its stop loss.
2 Lot Size Mode Balance Based Mode (default): the lot grows with your balance (setting 3).
Fixed Lot Mode: every trade uses the lot from setting 4.
3 Balance for each 0.01 lot size (Balance Based Mode) How much balance is needed for each 0.01 lot. Default 1000. Lower = bigger lots and more risk. Every trade, including averaging trades, uses this lot. The lot is rounded down to your broker’s lot step; if it is below the broker’s minimum lot, the minimum is used.
Example: balance $2,000, setting 1000 -> 2,000 / 1,000 x 0.01 = 0.02 lots. Setting 500 -> 2,000 / 500 x 0.01 = 0.04 lots.
We recommend 1000 for Smart DCA Mode and not lower than 500.
4 Initial Lot Size (For Fixed Lot Mode) The lot for every trade when Lot Size Mode is Fixed Lot Mode. Default 0.01. Ignored in Balance Based Mode.
5 Take Profit (ATR Multiplier) Take-profit distance as a multiple of ATR. Default 1.0. With one trade, the take profit is ATR x 1.0 from the entry. When averaging trades are added, all trades share one take profit, which moves closer to the average entry: the distance is divided by the number of trades.
Example: ATR is $150. One buy at 110,000 -> take profit 110,150. Three buys with an average entry of 109,800 -> take profit 109,800 + 150 / 3 = 109,850.
We recommend the default – this is a scalping strategy, so a large take profit makes trades last much longer.
6 Token Stop Loss (ATR Multiplier) A very wide “safety” stop loss placed on every trade, as a multiple of ATR. Default 250. It exists mainly because some brokers require a stop loss on each trade and is not expected to be hit; the real risk control is the Drawdown Recovery Module and Max DD % Allowed. For a basket it is placed from the average entry. 0 = no stop loss.
Example: ATR $150 x 250 = $37,500 away from the entry.
In Single Shot Mode this is the trade’s only stop loss – lower it (for example 10-30) if you use that mode.
7 Max Spread Pips No new first trade opens while the spread is wider than this. The value is compared with the spread MetaTrader shows in Market Watch (in points). Default 5000. 0 switches the filter off. Averaging trades are not affected.
Example: Market Watch shows a BTCUSD spread of 1,800 -> within 5000, trading allowed. During a spread spike to 6,000 -> the EA waits.
8 Maximum Trade Limit on Averaging The maximum number of the EA’s trades on the symbol, counting the first trade (Smart DCA Mode). Default 50. When reached, no more trades open until the basket closes. 0 = no averaging trades at all.
9 EA Start Time (Broker Time) From this time of day the EA may open trades, in your broker’s server time (the time in Market Watch). Format HH:MM, 24-hour. Default 01:00.
Example: 08:30. Wrong: 8:30am or 08.30 – an unreadable time switches the time filter off.
10 EA Stop Time (Broker Time) After this time no new trades (first or averaging) open. Default 23:00. Open trades keep their take profit and stop loss. A window over midnight works, e.g. Start 22:00, Stop 06:00. If Start and Stop are the same, the filter is off.
News Filter Settings (full version, live trading only)
11 Enable News Filter true (default): new trades pause around economic news for BTC and USD, using the FRZ news calendar from frzserver.com. Open trades are still managed. The filter does not work in the Strategy Tester.
12 Minutes Before High Impact News How many minutes before a filtered news event the pause starts. Default 30.
13 Minutes After High Impact News How many minutes after the event the pause ends. Default 30.
Example: news at 14:30 with 30 / 30 -> no new trades from 14:00 to 15:00.
14 Filter High Impact News true (default) = pause for high-impact events.
15 Filter Medium Impact News false (default). true = also pause for medium-impact events (more pauses, fewer trades).
16 Filter Low Impact News false (default). true = also pause for low-impact events.
17 Filter Speeches true (default) = also pause for speeches (e.g. central bank speakers).
Drawdown Recovery Settings
18 Enable Drawdown Recovery Module true (default) enables the recovery module: when the loss on this symbol reaches setting 19, the EA hedges the open trades and works the loss back in steps with its own recovery trades. While it runs, normal trading pauses. Use it only if your broker allows hedging (buy and sell trades on the same symbol at the same time).
There is no guarantee that recovery always succeeds. In a long one-way trend the drawdown can grow further.
19 Drawdown Recovery Threshold % (Current Pair) The loss that starts the recovery module, as a % of the balance, counting only this EA’s trades on this symbol (not the whole account). Type the number without “%”. Default 15. We recommend 15-20, leaving drawdown room for the recovery trades.
Example: balance $10,000, setting 15 -> recovery starts when the EA’s BTCUSD trades are $1,500 down.
20 Recovery Steps In how many parts the recovery module tries to win back the loss before closing the original trades and the hedge. Default 10.
Example: a $1,000 drawdown with 10 steps -> about $100 per step.
21 Recovery Lot Size Factor (1-10) (1=Biggest) Size of the recovery trades, from 1 (biggest lots, fastest, riskiest) to 10 (smallest lots). Default 5.
22 Grid Distance (ATR Multiplier) The minimum distance between averaging trades, as a multiple of ATR. It is used both for the normal Smart DCA averaging trades and for the recovery module’s trades. Default 0.5. Lower = more, closer trades; higher = fewer, wider-spaced trades.
Example: ATR $150 x 0.5 = $75 – the next averaging buy needs price at least $75 below the lowest open buy.
23 Recovery Adjustment for Broker Fees Increases the amount the recovery module aims to win back, to cover commission, spread and slippage. Default 1.1 = 10% more than the drawdown.
Example: 1.01 = 1% more, 1.05 = 5% more.
24 Recovery DCA Max for B/E When the recovery module has more averaging trades than this, it tries to close them at breakeven instead of waiting for the full step amount, to reduce risk. Default 15. This does not limit the number of recovery trades.
25 Max DD % Allowed An account-level safety stop: when the account equity is this % below the balance, the EA stops opening new trades (Status DD PROTECTION). Open trades are kept and still managed. Trading resumes only after you remove the EA and attach it again. Default 99 (practically off); 0 = off. If you use the recovery module, keep this well above setting 19, because recovery can raise the drawdown for a while.
Example: balance $10,000, setting 30 -> new trades stop when equity falls to $7,000.
Misc Settings
26 Magic Number An ID the EA writes on its trades so it only manages its own. Default 1731. Change it only if another EA on the same account uses 1731.

The DEMO version has no News Filter Settings, so its Inputs tab goes from setting 10 straight to setting 18. The EA always trades the symbol of the chart it is attached to, including any broker prefix or suffix (e.g. BTCUSDm, BTCUSD.a), so no symbol-name setting is needed.

Set Files

FRZ Bitcoin Scalper does not use .set files. Most settings (lot sizing, ATR-based distances, drawdown thresholds, etc.) are dynamic and adapt to your account balance and current market conditions, so a fixed .set file would not reflect the correct values for your account. Use the Input Settings table above as your starting configuration instead.

Troubleshooting

Issue What to check
EA is attached but opens no trades 1. AutoTrading / Algo Trading is on and live trading is allowed on the EA’s Common tab.
2. The license is valid and https://frzserver.com is in the WebRequest list – the HUD Server row should be green.
3. The time is inside EA Start/Stop Time (settings 9-10).
4. News Filter: Paused – wait for the news window to pass.
5. Live Spread is red – the spread is above Max Spread (setting 7).
6. Status is RECOVERY MODE or DD PROTECTION – see the HUD table.
7. Otherwise the EA is waiting for its entry conditions – this is normal; it trades only when its setup appears.
MT5: alert “FRZ Bitcoin Scalper MT5 requires a hedging account.” The account is a netting account. Open a hedging account with your broker and attach the EA there.
Alert “FRZ Bitcoin Scalper works on BTC / Bitcoin symbols only.” The chart symbol is not a Bitcoin symbol. Attach the EA to BTCUSD (or your broker’s Bitcoin symbol).
Backtest shows WRONG SYMBOL/TIMEFRAME Select a Bitcoin symbol and the M5 period in the Strategy Tester and start again.
Backtest shows FULL VERSION BACKTEST LOCKED The full version must verify its license online first. Attach it to a live or demo chart (with WebRequest set up) until the license is verified, then restart the backtest. Or use the DEMO version for testing.
DEMO stops opening trades in a backtest The DEMO limit of 20 initial trades was reached (Journal: “demo initial trade limit reached (20)”). Use a shorter test period, or the full version.
Status shows DD PROTECTION The account drawdown reached Max DD % Allowed (setting 25). Review your risk settings, then remove the EA and attach it again to resume trading.
Lot size is bigger than expected The calculated lot was below your broker’s minimum lot for BTCUSD, so the minimum lot is used. Check the minimum lot in the symbol’s Specification (right-click the symbol in Market Watch).
Settings look wrong after updating the EA MetaTrader can keep old input values. Remove the EA, attach it again and click Reset on the Inputs tab before changing settings.
Journal shows [OrderSend Error] The broker rejected the trade. The Err number explains why – most often not enough margin, the market is closed, or the lot size is not allowed.

Get Support

Online AI chat: https://t.me/FRZSupportBot
Discord Forum: https://www.frzsoftware.com/discord

Recommended VPS: https://www.frzsoftware.com/getvps
Join VIP Club: https://www.frzsoftware.com/vipclub
Social Links: https://www.frzsoftware.com/socials

Disclaimer

Our software is provided “as is”, without any warranty or condition of any kind, express, implied or statutory. You are advised to do necessary testing on demo accounts before using the software on a live account. Trading carries a high level of risk to your capital and you should only trade with money you can afford to lose. Past performance of any trading system is not necessarily indicative of future results.

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