FRZ SMC Liquidity Trap Trader – User Manual

Before You Start

  • Enable AutoTrading (MT4) or Algo Trading (MT5) in your trading platform.
  • The EA is free. It needs no license and no WebRequest (internet URL) setup.
  • The EA trades the symbol and timeframe of the chart it is attached to. M15 or higher is recommended. One chart trades one pair – to trade more pairs, open one chart per pair and attach the EA to each.
  • With DCA on (default), the EA can add up to 25 trades per side and the trades have no individual stop loss. To cap the loss, set the Drawdown Stop Loss (setting 8).
  • MT5: a hedging account is recommended, so buy and sell trades can be open at the same time. On a netting account the EA skips a new trade while one in the other direction is open (see Troubleshooting).
  • Before trading live, run the EA in the Strategy Tester and on a demo account.

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 chart of the pair you want to trade (M15 or higher) and drag the EA onto it. On the Common tab, tick Allow live trading.
  5. Click the AutoTrading button on the toolbar 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 chart of the pair you want to trade (M15 or higher), preferably on a hedging account, and drag the EA onto it. On the Common tab, tick Allow Algo Trading.
  5. Click the Algo Trading button on the toolbar so it turns green.

Quick Specifications

Product name FRZ SMC Liquidity Trap Trader
Trading pair(s) Any symbol, one per chart. High-volume forex pairs are recommended.
Suitable market sessions All sessions – the EA has no time filter
Minimum leverage The higher, the better – use the highest leverage available. However, 1:100 can be recommended as the bare minimum, because the EA can hold up to 50 trades on one chart. 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

The panel at the top-left of the chart shows what the EA is doing on this chart. Long lines wrap onto the next line. The EA manages its buy side (all its buy trades on this chart) and its sell side (all its sell trades) separately.

HUD Item Meaning
FRZ SMC Liquidity Trap Trader v… Product name and the version you are running.
Status WAITING FOR SETUP (green) – no trap and no trades; the EA is waiting for a sharp move. Normal.
BUY TRAP SET / SELL TRAP SET / BUY + SELL TRAPS SET (green) – after a sharp move, a trap level is set and the EA is waiting for its entry confirmation.
IN TRADE (BUY) / IN TRADE (SELL) / IN TRADE (BUY + SELL) (green) – trades are open on this chart.
DD STOP LOSS HIT (red) – the Drawdown Stop Loss closed this chart’s trades within the last hour. The EA keeps trading normally afterwards.
Symbol The chart symbol and timeframe the EA trades, e.g. EURUSD M15.
Balance / Equity Account balance and equity (balance plus the floating profit/loss of all open trades) in the account currency.
Min Market Maker Move The minimum size of a sharp move that sets a trap (setting 2), as a multiple of ATR and in pips, e.g. Min Market Maker Move: 3.0x ATR (18.0 pips).
Buy Trap / Sell Trap The active trap level and its distance from the current price, e.g. Buy Trap: 1.08350 (14.5 pips above price), or none (gray). The trap level is also the take profit of the first trade on that side. When the price returns to the level before an entry, the trap is cancelled.
Lot / Trades The lot size of the first trade (setting 1, adjusted to your broker’s lot limits) and how many buy and sell trades are open, e.g. Lot: 0.01 | Trades: 3 buy, 0 sell.
DCA The DCA settings with the current step in pips, e.g. DCA: On, step 2.0x ATR (12.0 pips), max 25 per side, or Off (gray).
Breakeven The breakeven setting, e.g. Breakeven: 75% of take profit distance (single trade), or Off (gray).
DD Stop Loss The Drawdown Stop Loss setting, e.g. 20.0%, or Off (gray) when it is 0.
Open P/L Shown only while trades are open: the floating profit/loss of this chart’s trades (buys and sells together), including swap (on MT4 also commission). Green when 0 or above, red when negative.
Last The last action, e.g. Last: Buy trap set at 1.08350, Last: Buy 0.01 lot opened, Last: Buy DCA trade 2 opened, Last: Buys closed: basket profit, Last: Buy trap cancelled: price returned to the level or Last: Trade closed at its stop loss or take profit - traps reset. Not shown until the first action after the EA is attached.

Chart arrows: a green up-arrow marks the moment a buy trap is set, and a red down-arrow marks a sell trap. Hover over an arrow to see its trap level.

Input Settings

FRZ SMC Liquidity Trap Trader input settings

ATR (Average True Range) is the average candle size over the last 100 candles of the chart’s timeframe. It grows when the market is busy and shrinks when it is quiet, so the distances below follow the market instead of staying fixed. The examples use EURUSD M15 with an ATR of 6 pips (0.00060).

No. Setting Explanation
Trade Settings
1 Lot Size The lot size of the first trade on each side. Default 0.01. DCA trades use the lot of the previous trade x the DCA Lot Multiplier (setting 7). If it is below your broker’s minimum lot or above its maximum, the EA uses the minimum or maximum, and it is rounded down to your broker’s lot step.
Example: on EURUSD, 0.01 lot = about $0.10 per pip. With 10 trades of 0.01 lot open, each pip is worth about $1.
2 Min Market Maker Move (ATR Multiplier) How big a sharp move must be before the EA sets a trap, as a multiple of ATR. Default 3.0. Higher = only very strong moves count (fewer, more selective trades); lower = more traps and more trades.
Example: ATR 6 pips, setting 3.0 -> the move must be at least 3 x 6 = 18 pips.
3 Breakeven (% of Take Profit Distance, 0 = Off) Moves the stop loss to the entry price once a trade has covered this % of the way to its take profit, so the trade can no longer lose (apart from spread, commission and swap). It applies only while a side has a single trade – once DCA has added trades, the side works with its shared take profit instead. Default 75. 0 = Off.
Example: buy at 1.08200 with take profit 1.08350 (15 pips), setting 75 -> when the price is more than 11.25 pips in profit (above 1.08312), the stop loss moves to 1.08200.
DCA Settings
4 Enable DCA DCA (adding trades at better prices to lower the average entry). true = on (default): when the price moves against a side, the EA adds trades and all trades of that side share one take profit; the trades have no individual stop loss. false = off: the EA holds one trade per side, and each trade has a stop loss at a recent swing high/low.
5 DCA Step (ATR Multiplier) How far the price must move against the newest trade before the next DCA trade, as a multiple of ATR. The EA also waits for the market to show a sign of turning back, and adds at most one trade per candle. Default 2.0. Higher = fewer, more widely spaced trades (safer); lower = more trades closer together.
Example: ATR 6 pips, setting 2.0, newest buy at 1.08200 -> the next buy can open once the price is 12 pips lower, at 1.08080 or below.
6 Max Trades per Side (incl. Initial Trade) The most trades the EA holds on one side (buy or sell) of this chart, including the first trade. Default 25. Lower = less risk, but the side cannot average as far.
7 DCA Lot Multiplier Each DCA trade’s lot = the previous trade’s lot x this number. Default 1.0 (every trade uses the same lot). Values above 1.0 grow the lots quickly and raise the risk.
Example: setting 1.5, first trade 0.02 lot -> DCA trades 0.03, 0.04 (0.045 rounded down to the 0.01 lot step), 0.06…
How a DCA side closes: all trades of a side share one take profit at the average entry price plus (buys) or minus (sells) the first trade’s take-profit distance divided by the number of trades. With more than 3 trades, the side closes as soon as its total profit is above 0, and so does a side whose oldest trade has been open for 5 trading days.
Example: first buy at 1.08200 with take profit 1.08350 (15 pips). A second buy at 1.08080 -> average 1.08140, shared take profit 1.08140 + 15/2 pips = 1.08215. A third buy at 1.07960 -> average 1.08080, take profit 1.08080 + 5 pips = 1.08130.
Drawdown Stop Loss Settings
8 Drawdown Stop Loss (% of Balance, 0 = Off) Closes all of this EA’s trades on this chart – buys and sells – when their combined floating loss (including swap; on MT4 also commission) reaches this % of the account balance. Default 0 = off. Because DCA trades have no stop loss, setting this is strongly recommended. It applies per chart, not to the whole account. After it triggers, the panel shows DD STOP LOSS HIT for one hour, and the EA continues to trade normally.
Example: balance $2,000, setting 20 -> all trades on this chart are closed when they are $400 down together (20% of $2,000).
Lower = smaller losses, but trades are closed more often before they can recover. Higher = more room, bigger possible loss.
Misc Settings
9 Magic Number An ID number the EA writes on its trades so it only manages its own. Default 1635. Each chart manages only its own symbol, so charts of different pairs can share the same number. If you attach the EA to two charts of the same pair (e.g. EURUSD M15 and EURUSD H1), give each chart a different number, e.g. 1635 and 1636 – otherwise both charts manage the same trades. Also change it if another EA on the same account and pair uses 1635.

Set Files

FRZ SMC Liquidity Trap Trader does not use .set files. Most settings (move size, DCA distances, take profits, 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 (green button) and live trading is allowed on the EA’s Common tab.
2. Waiting is normal: the EA first needs a sharp move (status BUY TRAP SET / SELL TRAP SET), then a confirmation before the price returns to the trap level. On quiet markets this can take a while – lower setting 2 for more setups.
3. A side holds one first trade at a time – a new trap on that side is only set after its trades close.
4. The Last row does not show skipped: stop loss or take profit too close to the price (the broker’s minimum stop distance is larger than the trade’s distance – common on very low timeframes; use M15 or higher).
Panel shows Buy trap cancelled: price returned to the level Normal. The price reached the trap level before the entry confirmation, so there is nothing left to trade. The EA waits for the next sharp move.
Trades have no stop loss Normal while DCA is on (setting 4) – the EA adds trades instead. Use the Drawdown Stop Loss (setting 8) to cap the loss, or set Enable DCA to false to give every trade a stop loss.
The EA keeps adding trades while the market moves against them Normal with DCA – every further trade lowers the average entry and brings the shared take profit closer to the market. A side never has more than setting 6 trades. Use a sufficient deposit (see Quick Specifications) and the Drawdown Stop Loss.
The take profit of my trades changed Normal with DCA – all trades of a side share one take profit, and it is recalculated each time a trade is added.
MT5: Buy skipped: a sell is open (netting account) The account is a netting account, which cannot hold buys and sells on the same symbol at the same time, so the EA skips the new trade. Use a hedging account to trade both sides (in MT5: File > Open an Account, or ask your broker).
Two charts of the same pair close each other’s trades Both charts use the same Magic Number on the same pair. Give each chart a different Magic Number (setting 9).
Settings look wrong after updating the EA The settings list changed in this version. Remove the EA from the chart, attach it again and click Reset on the Inputs tab before changing any setting.
Experts/Journal tab shows OrderSend failed (MT4) or Order failed (MT5) The broker rejected the trade. The error number (MT4) or Retcode= number (MT5) at the end of the line explains why – most often not enough margin, the market is closed, or trading is disabled for the symbol.

Get Support

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

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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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