FRZ Scalping Ultimo – User Manual

Before You Start

  • Enable Algo Trading / AutoTrading in your trading platform.
  • For MT5, use a hedging account. Netting accounts are not supported.
  • Use the EA on the M5 timeframe. If you attach it to another timeframe on a live or demo chart, it switches the chart to M5 automatically.
  • Attach the EA to one chart only. It trades all the symbols listed in its settings from that single chart, so a second copy on another chart is not needed and will not start.
  • Full versions require a valid license. The DEMO version does not.
  • Full versions require WebRequest access to https://frzserver.com (see the next section).
  • Check that every symbol in the Trading Symbols setting is available on your broker. If your broker’s symbol names have a prefix or suffix, enter them in the Prefix and Suffix settings.
  • The Drawdown Recovery Module places hedge trades, so it needs a broker that allows hedging (buy and sell on the same symbol at the same time).

NB: This is an aggressive trading robot. There can be extended drawdown periods if the market goes against us. Use an equity-based stop loss based on your risk appetite (a minimum 25% equity stop loss is recommended) and withdraw profits regularly, at least until you have fully recovered your initial deposit.

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 MQL4/Experts folder (File > Open Data Folder).
  3. Restart MT4 or right-click the Navigator panel and select Refresh.
  4. Attach the EA to one chart on the M5 timeframe.
  5. Enable AutoTrading.

MT5 Installation

  1. Download the MT5 version of the EA.
  2. Copy the .ex5 file into your MQL5/Experts folder (File > Open Data Folder).
  3. Restart MT5 or right-click the Navigator panel and select Refresh.
  4. Attach the EA to one chart on the M5 timeframe (on a hedging account).
  5. Enable Algo Trading.

Demo Version

The DEMO version is backtest-only. Its limits are:

  • Backtest-only – it shows a notice and will not trade if attached to a live or demo chart. Use it in the Strategy Tester.
  • No license check required.
  • Live server analytics are not available in the DEMO.
  • Trade limit: it stops opening new initial trades after 30 initial trades in a test. Add-on trades on an already open basket do not count toward this limit.
  • The Strategy Tester only supplies prices for the chart’s own symbol, so a backtest trades that one symbol, not the full symbol list. This applies to the full version’s backtests as well.

Quick Specifications

Product name FRZ Scalping Ultimo
Platform supported MT4 / MT5
Timeframes supported M5
Trading pair(s) The symbols listed in the Trading Symbols setting (default: EURUSD, GBPUSD, USDJPY, XAUUSD, US30). Major forex pairs, Gold and major indices are supported.
Suitable market sessions All major sessions. The default EA operating hours are 01:00 to 23:00 broker time.
Minimum leverage The higher, the better – use the highest leverage available. 1:500 is recommended. Consider increasing your deposit if your leverage is lower.
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.

On-Chart HUD Panel

The EA shows a panel in the top-left corner of the chart. It shows totals across all the symbols the EA trades.
FRZ Scalping Ultimo on-chart HUD panel

HUD Item Meaning
Status MONITORING (waiting for setups), RECOVERY MODE (drawdown recovery is running), DD THRESHOLD HIT (the recovery threshold was reached), DD PROTECTION (Max DD Allowed was reached and trades were closed), WRONG TIMEFRAME (backtest only – restart the test on M5).
Active Pairs How many symbols currently have open trades, against the Max Concurrent Trading Pairs limit and the number of configured symbols.
Active The symbols that currently have open trades.
Avoid Correlated Pairs Whether the correlated-pair filter is on or off.
Open Trades Total number of open trades opened by the EA.
Balance Your account balance.
Open P/L Combined floating profit or loss of the EA’s open trades.
Current DD Floating loss of the EA’s open trades as a percentage of your balance.
Recovery DD Trigger The drawdown level that starts the recovery module.
Recovery Style The selected recovery style.
Recovery Ready, Triggered or Active.
Recovery/Hedge Lots Total lots currently held by the recovery module.
Max DD Allowed The drawdown level at which the EA closes all its trades.
Server Connection status to the FRZ server (full version, live and demo accounts).
News Filter Shown as Not Used. This EA does not include a news filter.

Input Settings

FRZ Scalping Ultimo input settings

No. Setting Explanation
General Settings
1 Trading Symbols (Comma Separated) The symbols the EA trades, separated by commas. Default: EURUSD,GBPUSD,USDJPY,XAUUSD,US30. Use the plain symbol names here; if your broker adds a prefix or suffix, use settings 11 and 12.
2 Max Concurrent Trading Pairs The maximum number of different symbols that can have open trades at the same time (default 2). If the limit is reached, the EA waits until one of the symbols is flat before starting a new one. Symbols that already have open trades are not affected.
3 Avoid Correlated Pairs When on (default), the EA will not open a new symbol that is closely correlated with, or shares a currency with, a symbol it already has open, to avoid doubling the same risk. Turn it off if you want the EA to open correlated symbols at the same time. It is not applied in the Strategy Tester.
4 Balance for each 0.01 Lot Size Sets the lot size from your balance. Default 1000 = 0.01 lot for each $1,000 of balance, per symbol. Example: with 500 here and a $1,000 balance, the lot size is 1000 / 500 x 0.01 = 0.02 lots. With 250 here and a $2,000 balance, it is 2000 / 250 x 0.01 = 0.08 lots. We recommend 0.01 lot per $1,000 (conservative) to 0.01 lot per $500 (standard) per symbol.
5 Take Profit (ATR Multiplier) The take profit as a multiplier of the ATR, not in pips. Default 1.0. Do not make it too large, as this is a scalping strategy.
6 Stop Loss (ATR Multiplier) The stop loss as a multiplier of the ATR, not in pips. Default 250 is a very wide stop that is not expected to be hit. It is there so every trade has a stop loss. Your real protection is the drawdown based settings below.
7 Max Spread ATR % (0 = Disabled) The maximum spread allowed, as a percentage of the ATR. If the spread is above this, the EA does not open new trades on that symbol. Default 0 = disabled. It is measured against the ATR so it works the same on forex, Gold and indices. It is not applied in the Strategy Tester.
8 Max Averaging Trades (Per Pair) The maximum number of trades the EA can have open on one symbol at a time (default 50).
9 EA Start Time The time the EA starts opening trades each day (HH:MM, your broker’s platform time). Default 01:00.
10 EA Stop Time The time the EA stops opening new trades each day (HH:MM, your broker’s platform time). Default 23:00.
11 Broker Symbol Prefix (Blank=Auto Detected) Leave blank to auto-detect. Only fill it if your broker’s symbol names have a prefix and the symbols are not found. Examples: for dmBTCUSD or m.BTCUSD, enter dm or m.
12 Broker Symbol Suffix (Blank=Auto Detected) Leave blank to auto-detect. Only fill it if your broker’s symbol names have a suffix and the symbols are not found. Examples: for EURUSDm or EURUSD.cc, enter m or .cc. If a symbol has both, fill both.
Drawdown Recovery Settings
13 Enable Drawdown Recovery Module Turns the drawdown recovery module on or off (default on). It needs a broker that allows hedging. There is no guarantee it can recover every drawdown.
14 Drawdown Recovery Threshold % The drawdown level that starts the recovery module (enter it without the % sign). It is measured across all the EA’s open trades on all symbols together, as floating loss divided by your balance. Default 20. Keep it low, because the recovery module needs some drawdown room to work.
15 Recovery Style Conservative, Normal (default) or Aggressive. Conservative uses wider spacing between recovery trades; Aggressive uses tighter spacing.
16 Recovery DCA Max Trades The maximum number of recovery trades the module can open (default 25).
17 Max DD % Allowed (Hard Circuit Breaker) If the floating loss of all the EA’s trades reaches this percentage of your balance, the EA closes all its trades (including recovery trades). Default 99. Set it according to your risk appetite, and allow more room than the recovery threshold if you use the recovery module.
Misc Settings
18 Base Magic Number The base ID the EA uses to recognise its own trades (default 1731). The EA gives each symbol its own number from this base. Change it only if you run another copy of the EA on a different account or need separate IDs.

Set Files

FRZ Scalping Ultimo 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 not opening trades Check AutoTrading is on, the chart is M5, the time is inside the EA Start/Stop times, the symbols exist on your broker (use Prefix/Suffix if needed), and the Max Concurrent Trading Pairs limit has not been reached. Setups are selective, so the EA can wait a while.
A symbol never trades Check its name matches your broker (Prefix/Suffix). Also check Avoid Correlated Pairs – the symbol may be blocked because a correlated one is already open.
“Another instance of this EA is already running” alert The EA can run on one chart only. Remove it from the other chart, or wait about 20 seconds after removing it before re-attaching.
The chart changed to M5 by itself This is expected. The EA only works on M5 and switches the chart automatically on live and demo accounts.
WRONG TIMEFRAME notice in the Strategy Tester The tester cannot change its own timeframe. Restart the backtest on M5.
License or “Server” problems (full version) Check the license is active for your account number, WebRequest access to https://frzserver.com is allowed, and the platform is connected to the internet.
No trades on MT5 The account must be a hedging account. Netting accounts are not supported.
DEMO does not trade on a chart The DEMO is backtest-only. Run it in the Strategy Tester.
Backtest trades only one symbol This is a Strategy Tester limit. The tester only supplies prices for the chart’s own symbol.
Recovery does not start Check the module is enabled (setting 13) and that your broker allows hedging.

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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