FRZ No Nonsense Forex EA – User Manual
- Related Product: FRZ No Nonsense Forex EA
- Browse Similar Tools: Forex Trading Robots
- Before You Start
- WebRequest Setup
- Installation
- Demo Version
- Quick Specifications
- On-Chart HUD Panel
- Input Settings
- Set Files
- Troubleshooting
- Get Support
- Useful Links
Video Guide
(This is from an older version – always consider the written text below as the updated guide. A new video is planned.)
Before You Start
- Enable Algo Trading / AutoTrading in your trading platform.
- Attach the EA to one chart only – it trades every pair in your Trading Symbols list from that single chart.
- Full versions require a valid license. The demo version does not require a license and only runs in the Strategy Tester.
- WebRequest access to https://frzserver.com is required for the full version (license check, live server analytics engine, and news filter).
- Single Shot Mode: If you use this mode, make sure you increase the take profit to at least 1.5x-2x of the stop loss.
WebRequest Setup
1. Open Tools > Options > Expert Advisors.
2. Enable Allow WebRequest for listed URL.
3. Add this URL: https://frzserver.com
4. Click OK and restart the EA if needed.
Installation
MT4 Installation
1. Download the MT4 version of the EA.
2. Copy the .ex4 file into your MT4 MQL4/Experts folder.
3. Restart MT4 or right-click the Navigator panel and select Refresh.
4. Attach the EA to any chart set to the M15 timeframe.
5. Enable AutoTrading.
MT5 Installation
1. Download the MT5 version of the EA.
2. Copy the .ex5 file into your MT5 MQL5/Experts folder.
3. Restart MT5 or right-click the Navigator panel and select Refresh.
4. Attach the EA to any chart – it auto-switches that chart to M15 on live/demo.
5. Enable Algo Trading.
Demo Version
The demo version is backtest-only (Strategy Tester) – it will not initialize if attached to a live or demo chart. No license check is required.
The demo is provided only to show general entry behavior and trade frequency, as backtesting may not produce the exact same entry accuracy as live trading, since some functions aren’t available in the backtester:
- Live server analytics unavailable in backtester – only a local validation model is used instead.
- News filter unavailable in backtester.
The demo version also has a limit of 15 initial trade entries per backtest (DCA add-ons do not count toward this limit), after which you may restart the test on a different pair or setting as necessary.
Quick Specifications
| Product name | FRZ No Nonsense Forex EA |
| Platform supported | MT4 / MT5 |
| Timeframes supported | M15 |
| Trading pair(s) | Multiple major FX pairs at once, all from one chart. Works on the 28 major FX crosses (USD, EUR, GBP, JPY, CHF, AUD, CAD, NZD). Default list ships with 15 pairs, fully editable in Trading Symbols. |
| Suitable market sessions | All sessions by default (01:00-23:00 server time) – adjustable via EA Start/End Time. |
| Recommended min. deposit | $500 minimum for Single Shot Mode, $1,000 minimum for Smart DCA Mode. You can use cent accounts as well. |
| Minimum leverage | The higher, the better – use the highest leverage available. However, 10:1 for Single Shot Mode and 50:1 for Smart DCA Mode can be recommended as bare minimums. 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. |
| Recommended broker | EA works on any broker that offers MetaTrader. However, we can recommend ICMarkets and if it is not available for your country, then we can recommend ICTrading. |
On-Chart HUD Panel
| HUD Item | Meaning |
|---|---|
| Title row | Product name and version identifier. |
| Status | Current state: MONITORING (flat, watching for setups), ACTIVE (at least one basket open), RECOVERY MODE (drawdown recovery engaged), DD PROTECTION (Max DD % Allowed tripped), WRONG SYMBOL / WRONG TIMEFRAME (backtest running on an unsupported symbol/timeframe). |
| Active Symbols (X/Y) | How many pairs currently have an open basket, out of your Max Concurrent Trading Symbols limit, followed by the symbol list. |
| Open Trades | Total open orders across every traded pair. |
| Balance | Current account balance. |
| Open P/L | Total floating profit/loss across every open order. |
| Current DD | Current floating drawdown, as a % of balance. |
| Recovery DD Limit | Your configured DD Recovery Threshold %. |
| Recovery | Off (Enable Drawdown Recovery disabled), Ready (enabled, not currently triggered), or Active (recovery engine currently running). |
| Hedge Lots | Current lot size held by the drawdown-recovery hedge, if active. |
| Server | Connection status to frzserver.com (live/demo only – not shown while backtesting). |
| News Filter | Clear, or Paused (n) if n of your traded pairs are currently paused for high-impact news (live/demo only). |
| Next News | The soonest upcoming high-impact news event across your traded pairs (live/demo only). |
Input Settings
| No. | Setting | Explanation |
|---|---|---|
| 1 | Trading Symbols (Comma Separated) | The list of pairs the EA trades, all from this one chart. Default: EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, USDCHF, NZDUSD, EURJPY, EURGBP, GBPJPY, EURCHF, AUDJPY, EURAUD, EURCAD, AUDNZD. |
| 2 | Trading Mode | Smart DCA Mode (Recommended) averages into a basket with a shared weighted-average take profit, and no hard per-order stop loss. Single Shot Mode places one order per signal with its own ATR-based stop loss and take profit. |
| 3 | Lot Size Mode | Balance Based Mode sizes each entry as a % of account balance (via setting 4). Fixed Lot Mode always uses the fixed lot size in setting 5. |
| 4 | Balance for each 0.01 lot size (Smart DCA Mode) | Only used in Balance Based Mode. Every this-much balance adds another 0.01 lots to the entry size. |
| 5 | Lot Size (Single Shot Mode) | Only used in Fixed Lot Mode – the fixed lot size for every entry. |
| 6 | Stop Loss (ATR Multiplier) (Single Shot Mode) | Only applies in Single Shot Mode. Stop loss distance as a multiple of ATR(50) at entry – e.g. 1.5 means 1.5x the ATR value in price distance. Important: if you use Single Shot Mode, make sure you increase the take profit to at least 1.5x-2x of the stop loss. |
| 7 | Take Profit (ATR Multiplier) | Take profit distance as a multiple of ATR(50) at entry, used by both trading modes. |
| 8 | Max Concurrent Trading Symbols | Caps how many different pairs can have an open basket at the same time. Existing baskets can still DCA-add freely past this limit – it only blocks opening a basket on a new pair. |
| 9 | DCA Trade Limit (Smart DCA Mode) | Maximum number of open orders allowed in a single pair’s DCA basket. |
| 10 | Max Spread ATR % (0 = Disabled) | Optional spread filter for new baskets (not DCA adds) – if the current spread exceeds this % of ATR(14), the EA skips opening a new basket on that pair. Default 0 disables it. Live/demo only – always disabled while backtesting. |
| 11 | EA Start Time | Session start (server time, HH:MM) – the EA only opens new baskets within the Start-End window. |
| 12 | EA End Time | Session end (server time, HH:MM). If End is earlier than Start, the session wraps overnight. |
| 13 | Broker Symbol Prefix (Blank=Auto Detected) | Only needed if your broker adds a prefix to symbol names (e.g. “m.” in “m.EURUSD”). Leave blank for auto-detection. |
| 14 | Broker Symbol Suffix (Blank=Auto Detected) | Only needed if your broker adds a suffix to symbol names (e.g. “.cc” in “EURUSD.cc”). Leave blank for auto-detection. |
| <<<<< Drawdown Recovery Settings >>>>> | ||
| 15 | Enable Drawdown Recovery | Turns the account-wide drawdown recovery engine on or off. |
| 16 | DD Recovery Threshold % | The account-wide open drawdown % that triggers the recovery engine. |
| 17 | Recovery Style | Conservative, Normal, or Aggressive – controls the recovery ladder’s grid spacing, max trade count, and lot-scaling factor. Conservative recovers more slowly with less risk; Aggressive recovers faster with more risk. |
| 18 | Max DD % Allowed | A hard circuit breaker, separate from and on top of Drawdown Recovery. If account-wide open drawdown reaches this %, every order this EA owns (all pairs plus any recovery/hedge trades) is force-closed immediately. |
| <<<<< Misc Settings >>>>> | ||
| 19 | Base Magic Number | The EA derives a unique magic number per traded pair from this base value. Change it only if you need to run more than one instance on the same account with different Trading Symbols lists – each instance needs its own Base Magic Number. |
Set Files
FRZ No Nonsense Forex EA 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.
Single Shot Mode: if you use this mode, make sure you increase the take profit to at least 1.5x-2x of the stop loss.
Troubleshooting
| Issue | What to check |
|---|---|
| HUD shows “WRONG TIMEFRAME” | Backtest the EA on the M15 timeframe. Live/demo charts auto-switch to M15 on attach, so this only appears in the Strategy Tester. |
| HUD shows “WRONG SYMBOL” | Backtest on one of the 28 major FX crosses (not metals, indices, crypto, or exotics). Live trading is not symbol-restricted – it trades your Trading Symbols list regardless of the chart’s own symbol. |
| “FRZ License” popup on attach | Confirm the account is licensed at frzsoftware.com/license, and that https://frzserver.com is added to your allowed WebRequest URLs (Tools > Options > Expert Advisors). |
| No trades opening | Confirm AutoTrading/Algo Trading is enabled, the chart is on M15, the current time is within your EA Start/End session window, and Max Concurrent Trading Symbols hasn’t already been reached. |
| Demo backtest stopped opening new baskets partway through | Expected behavior – the demo version caps at 15 initial trade entries per test. See the Demo Version section above. |
| EA won’t start on a second chart | Only one live instance is allowed per Base Magic Number. Either remove the EA from the other chart first, or give the new instance its own Base Magic Number. |
Get Support
Online AI chat: https://t.me/FRZSupportBot
Discord Forum: https://www.frzsoftware.com/discord
Useful Links
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.