FRZ Synthetic Indices EA is a fully automated trading robot that is designed to trade synthetic indices that are offered by Deriv and other similar brokers. The EA uses a trend reversal recognizing algorithm to enter trades. The EA is primarily designed for following indices:
- Volatility 10 Index
- Volatility 25 Index
- Volatility 50 Index
- Volatility 75 Index
- Volatility 100 Index
- Volatility 10 Index
- Step index
- Boom 1000 Index
- Crash 1000 Index
- Boom 500 Index
- Crash 500 Index
A VPS server is recommended for this EA as it needs to be running 24/7.
Backtesting: Back testing would not provide accurate results as some of the functions of the EA does not work well on back testing. However, you can do a back testing to get a rough idea.
Note on Deriv volatility indices: Not all indices can be traded using 0.01 lot size.
In forex, all pairs can be traded using the lowest lot size of 0.01 and this helps in risk management. But this is not the case with volatility indices as most of the indices do not allow 0.01 lot size. The table below shows some indices and their smallest lot sizes allowed for trading on Deriv. Therefore you need to be careful with your deposit and leverage before using larger lot sizes.
Volatility 10 Index =>0.30 Min
Volatility 25 Index =>0.50 Min
Volatility 50 Index =>0.50 Min
Volatility 75 Index =>0.001 Min
Volatility 100 Index =>0.01 Min
Crash 500 =>0.20 Min
Boom 500 =>0.20 Min
Step Index =>0.10 Min
1. Go to MT5>Options>Expert Advisors and Allow automated trading
2. Place EA file in the Experts folder of your MT5
3. Place indicator files in Indicators folder of your MT5 (do not place under subfolders)
4. Refresh/restart MT5
5. Open the required chart and load the EA onto it
6. Change the lot size and other settings as necessary
|Product name||FRZ Synthetic Indices EA MT5|
|Time frames supported||Any timeframe.|
|Trading pair||Synthetic indices by Deriv|
|Suitable market sessions||Works on any session|
|Recommended broker||Any broker with low spreads|
|Recommended Minimum deposit||$500 ($1000 better) Minimum on 500:1 leverage per pair. If leverage is less than this, you may have to increase the minimum deposit.|
|Recommended leverage||Higher, the better (Minimum recommended 1:500)|
- Initial Lot Size => This is the lot size. In case if you have more than 1 under settings 6, then additional trades can be added when price goes against you.
- Virtual Stop Loss (ATR Multiplier) => You can set the SL as 14-period ATR distance (Not in pips). Example: If the current ATR is 50 pips, and you add 1 here, then it means the TP is 50 pips. However, the ATR is dynamic and it changes every time you enter a trade.
- Take Profit (ATR Multiplier) => You can set the TP as 14-period ATR distance (Not in pips). Example: If the current ATR is 50 pips, and you add 1 here, then it means the TP is 50 pips. However, the ATR is dynamic and it changes every time you enter a trade.
- Daily Trading Start (Broker Time) => You can set a daily start time here on broker (MT5) time.
- Daily Trading End (Broker Time) => You can set a daily end time here. EA may not add fresh trades of the initial lot size after this time
- Maximum Trade Limit on DCA Averaging => You can control the maximum no of trades to have per pair on DCA here. If you set this as 1 then it means DCA disabled.
- Lot Maximization Ratio => This is the lot size increment factor for additional trades on DCA. If you set this as 1, then there is no lot size increment on DCA.
- Max Trades to Close on Breakeven => If the no of simultaneous trades per pair exceed this number, the EA will try to close the trades at breakeven without waiting for TP level in order to minimize DCA risk.
- Max Time to Close on Breakeven (Hrs) => If the trades takes more time than this to reach TP, the EA will try to close the trades at breakeven without waiting for TP level in order to minimize DCA risk.
- Enable Equity Based Stop Loss=> The EA has only an equity based stop loss which you can enable or disable here.
- Lowest Equity Amount =>If you have enabled the previous setting, you can set the lowest equity you can have in your account. If the equity goes below this amount, all the trades will be closed and no new trades will be opened.
- Magic Number => You can change this if necessary but it is recommended NOT to change it. You can leave it the same on all charts.