| Product name | FRZ Scalping Ultimo |
| Platforms Supported | MT4/MT5 |
| Time frames supported | M5 |
| Supported currency pairs | EURUSD, GBPUSD, USDJPY, USDCAD, AUDUSD, USDCHF |
| 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 (conservative) 0.01 lot size for each $500 of deposit per pair (Standard mode) |
| Backtesting | Back-testing is possible on the full version but possible on the DEMO version. |
| Current version | 1.0 |
NB: This is an aggressive trading robot. There can be extended drawdown periods if the market goes against us. Always withdraw profits whenever you reach 25%of the deposit. Use an equity-based stop loss based on your risk appetite (A minimum 25% equity stop loss is recommended). 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 MetaTrader>Options>Expert Advisors and tick “Allow automated trading”.
2. Allow the following URLs under MetaTrader options:
https://faireconomy.media
https://timeapi.io
https://frzserver.com
3. Copy and EA to the MT4 Expert folder
4. Restart/refresh your MT4
5. Load the EA to any recommended charts on M5
4. If your broker’s pair names have any prefix or suffix add them under setting 10 & 11
5. Change the lot size and other settings as necessary
6. Add more charts if necessary with the same settings
EA Settings
Setting Explanations:
1. 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)
Examples:
If you put 500 here and your deposit balance is 1000, then the lot size would be = 1000/500*0.01= 0.02 lots
If you put 250 here and your deposit balance is 2000, then the lot size would be = 2000/250*0.01= 0.08 lots
2. Virtual Stop Loss (ATR Multiplier) => You can set the SL in points here. Stop loss is virtual and only serves as a point to DCA averaging with additional entries. However, the entries would have a large hard stop loss which we do not expect to hit. These large stop loss levels are simply to make sure the entries have some stop loss as some brokers would require some stop loss.
3. Take Profit (ATR Multiplier) => You can set the TP as an ATR multiplier (Not in pips). ATR is dynamic and it can change every time a trade is entered. E.g. ATR at the time of entry was 5 pips and you added 2 as ATR TP then the hard TP would be 10 pips.
4. Max Spread Allowed (Pips) => If the current spread is more than this, EA will not take new trades.
5. Max DD% Allowed => This is the equity-based stop-loss; we recommended you have some stop loss. For instance, if you add 25 here, EA will stop new trades once the drawdown reaches 25%.
6. Maximum Concurrent Trades => You can set the maximum simultaneous trades that can be opened on DCA averaging.
7. Max Time (Hrs) to Close Trades at Breakeven => If the original trade takes more than this time, the EA will try to close the trade/s at breakeven rather than waiting for the TP level.
8 & 9. EA Start and Stop time => You can adjust the time of operation here. The time is the time used by your broker on the MetaTrader.
10. Symbol Name Prefix: If our prop firm’s currency pair names include a prefix, you need to add it here. If your prop firm’s pair names have no such prefix, you can simply keep this setting blank.
Example prefixes deEURUSD, dmEURUSD, m.EURUSD => In these cases de, dm, m. should be added under this setting.
11. Symbol Name Suffix: If our prop firm’s currency pair names include a suffix, you need to add it here. If your prop firm’s pair names have no such suffix, you can simply keep this setting blank.
Example suffixes: EURUSD.cc, EURUSDcash, EURUSDm => In these cases .cc, cash, m should be added here.
If your pair name has both prefixes and suffixes, you need to add them both under settings 10 and 11.