NB: This is an aggressive trading robot with DCA averaging. There can be extended drawdown periods if the market goes against us. Always withdraw profits whenever you reach 25%of the deposit. And use an equity-based stop loss based on your risk appetite (A minimum 25% equity stop loss is recommended).
FRZ Ultimate Scalper is an advanced, aggressive EA robot designed to work on M5 charts on MT4. It uses a proprietary smart averaging system with an optional lot maximizing feature and a drawdown recovery algorithm. It also includes a choppy market filter and volatility filter that can effectively recognize the unsuitable market conditions for the EA to operate.
Backtesting: Backtesting would not provide accurate results as some of the functions of the EA do not work well on backtesting. However, you can do a back-testing to get a rough idea.
Specifications
| Product name | FRZ Ultimate Scalper |
| Platform Supported | MT4 |
| Time frames supported | M15 |
| Supported currency pairs | EA works on any currency pair. But the following are recommended: EURUSD, GBPUSD, USDJPY & AUDUSD |
| Recommended min. deposit | Minimum $500 ($1000 recommended). Cent accounts can also be used. |
| Recommended lot sizing | 0.01 lot size for each $1000 of deposit per pair (recommended) 0.01 lot size for each $500 of deposit per pair (Standard mode) |
| Backtesting | Back-testing is possible but it might not produce accurate results without special preparations as news and some of logic might not work properly in back-testing. Forward testing is recommended with a demo. |
| Current version | 9.5 |
We recommend that you withdraw the profit whenever the balance reaches 25% return on capital invested at least until you fully recover your initial deposit.
How to Install
1. Go to MT4>Options>Expert Advisors and tick “Allow automated trading”
2. Copy and EA to the MT4 Expert folder
3. Restart/refresh your MT4
4. Load the EA to the charts you want
5. Change the lot size and other parameter if necessary
EA Settings
Setting Explanations:
- Lot Size => Here you can set the lot size.
- 0.01 lot size for each $1000 of deposit per pair (recommended)
- 0.01 lot size for each $500 of deposit per pair (Standard mode)
- Take Profit => You can set the TP in points here.
- Virtual Stop Loss => You can set the SL in points here. Stop loss is virtual and only serves as a point to DCA averaging with additional entries.
- Maximum concurrent trades => You can set the maximum simultaneous trades that can be opened on DCA averaging.
- Use an equity-based stop loss => You can enable or disable equity-based stop loss. We recommended that you enable this.
- Max allowed equity loss % => This is the max allowed equity loss for the account. We recommended that you set at least 25% equity loss
- & 8. Trading start/end time => Here you can set EA start and stop time. For instance, this EA may work better during London/NY sessions; you may set the opening and closing times based on those market times.
- Filter too volatile markets => You can enable or disable the volatile market filter.
- Enable emergency exits => You can enable or disable emergency exits.
- Enable excessive spread filter => You can filter high spread times if you enable this.