STEVE, been there………a day like today at 10 degrees, forget about it - is your compressor in a building or on a service truck? - I use rotary screw and vane compressors that have integral water separators which get a lot of it, the receiver next which gets a lot more, then air dryers that will give you virtually dry air - most reciprocating shop style compressors only are gonna have the receiver tank which will separate some water as it cools and expands, but the air leaving the tank will always have residual moisture in it and it will always freeze up in cold temps goin' thru the tool - some tools handle it, some don't, and some get ruin'd really easy - traps and passive drains will never get it all
anyway, if you're workin' off a truck I couldn't say, but if your compressor is inside you can add a refrigerated style air dryer (there are heated and regenerative types as well, more $) after the receiver and this would help a ton - a relatively small one matched to the scfm output of your compressor will do the trick