Onyx MT5 EA + SetFiles (Official version) | Unbounded

Product Overview

Onyx MT5 EA is a specialized MetaTrader 5 Expert Advisor for XAUUSD (Gold) that uses a structured daily breakout trading strategy. The EA automatically identifies the previous day’s high and low and places Buy Stop and Sell Stop pending orders around these key market levels.

When price breaks above or below the previous day’s range, Onyx MT5 can automatically enter a trade. Each position is managed with Stop Loss, Take Profit, and a customizable Trailing Stop, allowing the EA to dynamically adjust trade protection as the market moves.

Onyx MT5 can be installed on any timeframe chart, while the trading logic is based on daily price levels. For optimal execution, a low-spread broker is recommended.

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About the Developer

• Author: Aliaksandr Chupryna
• Experience: Over +4 years of experience on MQL5.
• Notable Products: Onyx MT5, Onyx MT4 and other advisors.
• Flagship Product:  Onyx MT5 is rated as the best performing product of the year.

>>Reviewed by Jason Stap <<

>>> Delivery time 24h-48h after payment.
>>> Refund if not delivered.
>>> You will receive the latest version without any limitations (ID+Time).

Main Features

• XAUUSD Gold Trading: Designed specifically for trading Gold (XAUUSD).
• Daily Breakout Strategy: Uses the previous day’s high and low as key breakout levels.
• Buy Stop & Sell Stop Orders: Automatically places pending orders above and below important daily levels.
• Automatic Trade Execution: No manual intervention is required once the EA is properly configured.
• Stop Loss Protection: Every trade can be protected with a predefined Stop Loss.
• Take Profit: Automatically closes trades when the target profit level is reached.
• Customizable Trailing Stop: Dynamically follows favorable price movements to help protect open positions.
• Four Trading Blocks: The EA includes four blocks with different Stop Loss, Take Profit, and Trailing Stop configurations.
• GMT Adjustment: Includes a GMT difference parameter for accurate daily-level calculations during testing.

Secondary Features

• Compatible with MetaTrader 5 (MT5).
• Can be attached to any chart timeframe.
• Automatic GMT detection when trading on demo or live accounts.
• Multiple SL, TP, and Trailing Stop configurations.
• Suitable for traders looking for an automated Gold breakout trading system.
• Recommended for brokers offering low spreads.
• Suitable for both strategy testing and automated live trading after proper validation.

How Does Onyx MT5 EA Work?

Onyx MT5 EA follows a straightforward daily breakout trading methodology.

First, the EA determines the previous day’s high and low. These levels are then used as potential breakout points. A Buy Stop order can be placed above the previous day’s high, while a Sell Stop order can be positioned below the previous day’s low.

If the market breaks through one of these levels, the corresponding pending order may be triggered automatically. The opened position is then managed using the configured Stop Loss, Take Profit, and Trailing Stop settings.

The EA’s four trading blocks provide different combinations of risk and exit parameters, allowing users to test and select settings that better match their trading objectives.

Onyx MT5 Performance Review

🟢Live Account Results

🔺XAUUSD pair – 19 consecutive weeks

• Initial Deposit: $1.000
• Growth Rate: 512%
• Win Rate (% of total): 96.2%
• Maximum Drawdown: 36.6%

Onyx MT5 Signal

🟢Backtest Results

🔺XAUUSD (Gold) – M15 – 5.5 Months

• Initial Deposit: $500
• Total Net Profit: $1.098.90
• Win Rate (% of total): 66.67%
• Maximum Drawdown: 10.25%

Onyx MT5 EA Backtets

Risk Management

• Risk management is an important part of the Onyx MT5 EA trading structure. Each trade can use a Stop Loss to limit potential losses and a Take Profit to define the intended profit target.
• The customizable Trailing Stop can also adjust the protective Stop Loss as the market moves in a favorable direction. This may help protect accumulated gains while allowing a position to remain open during continued price movement.
• Because Gold can experience significant volatility, traders should carefully evaluate position sizing, Stop Loss settings, spread conditions, and account balance before using the EA on a live account.

Why Choose Onyx MT5 EA?

Onyx MT5 EA may be suitable for traders who want a simple and automated approach to XAUUSD breakout trading without manually monitoring daily price levels.

Key advantages include:

• Automated identification of previous-day high and low levels.
• Automated Buy Stop and Sell Stop order placement.
• Built-in Stop Loss and Take Profit management.
• Customizable Trailing Stop functionality.
• Four different trading blocks for testing various trade-management settings.
• Compatible with any MT5 chart timeframe.
• Designed specifically for the Gold market.
• Simple breakout-based trading logic.

For traders interested in an automated Gold trading EA for MetaTrader 5, Onyx MT5 provides a structured approach based on daily market levels.

Fixed Lot Option

• Onyx MT5 EA can be configured to use a fixed lot trading approach, depending on the available settings and trading configuration.
• A fixed lot option can make position sizing more predictable because the trade volume remains consistent rather than automatically increasing with account balance or previous trading results.
• This approach may be preferred by traders who want greater control over their XAUUSD position size and risk per trade. However, the appropriate lot size should always be selected according to the account balance, broker conditions, Stop Loss distance, and individual risk tolerance.

Performance and Risk Management

• The performance of any XAUUSD Expert Advisor can vary depending on market conditions, broker execution, spreads, slippage, account size, and trading parameters.
• Onyx MT5 is designed with multiple trade-management settings, including Stop Loss, Take Profit, and Trailing Stop, allowing traders to test different configurations before selecting a suitable setup.
• For accurate testing, users should enter the appropriate GMT difference parameter. During demo or live trading, the EA determines the GMT setting automatically according to its configuration.
• For better execution quality, a low-spread broker is recommended, particularly because Gold can experience periods of increased volatility and wider spreads.
• Backtesting and demo testing should be performed before deploying the EA on a live trading account.

Weaknesses and Risk Warnings

Although Onyx MT5 EA provides automated breakout trading, it is not guaranteed to generate profits under all market conditions.

Potential weaknesses and risks include:

• False Breakouts: XAUUSD can temporarily break daily levels and then reverse.
• High Gold Volatility: Strong market movements can increase both profit potential and trading risk.
• Spread Sensitivity: Wider spreads may affect pending-order execution and overall trading results.
• Slippage: Actual live execution can differ from backtest or demo results.
• Market Conditions: A breakout strategy may perform differently during trending, ranging, or highly volatile markets.
• Parameter Sensitivity: Different SL, TP, and Trailing Stop settings can produce significantly different results.
• No Guaranteed Returns: Past performance and backtest results do not guarantee future performance.

Always test Onyx MT5 EA thoroughly on a demo account before using it with real funds. Never trade with money you cannot afford to lose.

Pros and Cons

Pros

• Designed specifically for XAUUSD (Gold).
• Uses an easy-to-understand daily breakout concept.
• Automatically identifies previous-day high and low levels.
• Supports Buy Stop and Sell Stop pending orders.
• Includes Stop Loss and Take Profit management.
• Customizable Trailing Stop.
• Four different trading blocks with different trade-management settings.
• Can be used on any MT5 chart timeframe.
• Automatic GMT handling for demo and live trading.

Cons

• Primarily designed for XAUUSD, limiting market diversification.
• False breakouts can lead to losing trades.
• Gold volatility can increase trading risk.
• Results may be affected by spreads and slippage.
• Different settings can produce different performance results.
• Requires thorough backtesting and demo testing before live deployment.
• Past performance does not guarantee future results.

What’s Included in the Download Package?

• Experts
  • Setting (If Any).docx
  • Installation Guide.docx
• SetFiles
  • Onyx EA_Fixed Lot.set
  • Onyx EA_Dynamic Lot.set

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Final Thoughts

In summary, Onyx MT5 EA is a structured XAUUSD Gold breakout Expert Advisor for MetaTrader 5 that focuses on previous-day high and low levels to identify potential trading opportunities. Its automated Buy Stop and Sell Stop execution, combined with Stop Loss, Take Profit, customizable Trailing Stop, and multiple trading blocks, provides a straightforward framework for automated Gold trading.

The EA may be suitable for traders who prefer a simple, rules-based breakout strategy rather than complex indicator systems. Its ability to operate on any MT5 chart timeframe and support both fixed and dynamic lot configurations also provides additional flexibility.

However, Onyx MT5 EA is not risk-free. Gold volatility, false breakouts, spread, slippage, broker execution, and parameter selection can significantly affect live performance. The reported backtest and live results should therefore be considered historical references rather than guarantees of future profitability.

For traders considering an automated XAUUSD breakout EA, Onyx MT5 offers a simple and transparent trading concept that can be evaluated through backtesting, demo trading, and conservative risk management before being deployed with real capital.