FRZ Breakout Scalper MT4 is an expert adviser (EA) that trades quick price breakouts. The logic behind it is simple. It looks at the speed of the price movements to make entries. For instance, if the price goes up by 10 pips in 5 seconds, then EA can recognize it as a bullish breakout and would place a buy trade. You can customize the exact recognition criteria for breakouts under settings.
Note 1: We recommend an ECN/raw spread broker with a VPS with a latency ideally less than 100ms to your broker’s server.
Note 2: Stop loss & take profit are virtual; you will not see them on chart.
Note 3: Entry optimization (Dollar Cost Averaging) is on by default. This will make more than one trade for any entry if prices reaches the SL (Trades are not closed on SL). You can disable this on Setting 14.
|Product name||FRZ Breakout Scalper|
|Time frames supported||One-minute chart|
|Supported pairs||EA can work with any forex pair. Major pairs recommended.|
|Lot sizing||0.01 lot for each $200 in the account per pair (Aggressive mode)
0.01 lot for each $500 in the account per pair (Normal Mode)
Above are considering 500:1 leverage
|Minimum deposit||Minimum $200 (on 500:1 leverage)|
|Recommended broker||Any broker with low spread (ECN/Raw spread account is necessary). We can recommend ICMarkets.|
>>Bullish Breakout Setup
These are the two settings that define a bullish breakout. For instance, If you have 10 (pips) in Setting 1 and 5 (Seconds) in Setting 2, that means whenever the price rises 10 pips or more within 5 seconds or less, then the EA recognizes it as a bullish breakout and enters a buy trade. Thus, if you want to increase the trades, you can either decrease the pips or increase the time or do both (Also if you want to decrease the trading, do the opposite).
1.Pips to Rise
2.Time to Rise (Seconds)
>>Bearish Breakout Setup
These are the two settings that define a bearish breakout. For instance, If you have 10 (pips) in Setting 1 and 5 (Seconds) in Setting 2, that means whenever price falls 10 pips or more within 5 seconds or less, then the EA recognizes it as a bearish breakout and enters a sell trade. Thus, if you want to increase the trades, you can either decrease the pips or increase the time or do both (Also if you want to decrease the trading, do the opposite).
3.Pips to Fall
4.Time to Fall (Seconds)
>>General Trading Settings
Please note take profit and stop loss are virtual and you can not see them on the chart.
5.Initial Lot Size
6.Take Profit Pips
7.Stop Loss Pips
10.Trailing Stop Pips
11.Spread Filter: If the current spread is above this level, then A will not enter into trades.
>>EA Running Time Settings
Here, you can set a period of the day where the EA should run. Time is broker’s time (MT4 time).
12.EA Start time (Broker Time)
13.EA Stop time (Broker Time)
>>Entry Optimization Settings
14.Enable Price Optimization
15.Volume Maximizer (1=Off)
16.Maximum Concurrent Trades per Pair
The EA can uses averaging technique to optimize the entry price. This is optional. You can disable averaging mode on Setting 14. With the averaging mode is on, when a trade reaches the stop loss, the EA will not close the trade but it will open another trade in the same direction and keep on doing this if the price goes against us. When there are more than one trade, the EA will consider the take profit pips combining all the trades.
The averaging mode can be further optimized by a maximizer (this is a martingale function). Martingale multiplier is defined under setting 15. (If you set this as 1, then the martingale function is disabled) We recommend having a mild martingale like 1.1 or 1.2 in order to minimize the risk. Also under Setting 16, you can set the maximum no of concurrent trades per pair at any given time. This can further reduce risk.