At a glance
Onyx MT5 EA is an automated trading system for MetaTrader 5 that specialises in gold, specifically the XAUUSD pair. The approach is based on breakouts of the previous day's high and low, using pending orders to enter when price moves beyond those levels. The EA includes four independent trading blocks, each with its own stop loss, trailing stop and trading schedule. Position sizing can be linked to account equity through a risk percentage setting.
Trading approach
The core logic is straightforward. Each day, the EA records the high and low of the previous trading day. It then places a Buy Stop order above that high and a Sell Stop order below that low. If price breaks either level, the corresponding order triggers and a position is opened. No manual chart watching is required once the orders are set.
Because the EA can run long and short orders simultaneously, it can capture breakouts in either direction. The four trading sets can be configured with different entry levels, lot sizing and active hours, allowing different breakout variants to be run on the same account.
Risk controls and position management
Stops and exits
Each trading set has its own Stop Loss and Take Profit settings. A trailing stop can be enabled to follow favourable price movement, and a break-even function moves the stop to the entry price after a certain number of points in profit. Spread protection can block new orders when the spread is too wide.
Lot sizing
Dynamic lot sizing is supported. When enabled, the EA calculates the lot size from a risk percentage of the current account equity, not a fixed lot. This means trade volume grows when the account grows and shrinks after losses. Alternatively, a fixed lot size can be used.
Exposure limits
Each of the four trading sets can be switched on or off independently. The EA also includes separate BUY and SELL controls, so a trader can disable short trades entirely, for example. A magic number identifies trades from the EA for management and reporting.
Setup notes
The EA is supplied for MetaTrader 5 only. The vendor includes set files that configure the four trading blocks for the intended breakout style on XAUUSD. The H1 timeframe is used in the published backtest, and the same timeframe should be used for live deployment unless the trader deliberately changes the settings. A GMT offset setting aligns the trading schedule with the broker's server time.
An on-chart panel provides access to risk settings and current status. The EA requires the account to allow automated trading and would be left running on the XAUUSD chart during the trading week.
Before you run it live
The vendor reports strong historical performance from a backtest run between January 2025 and March 2026. That test used a $200 starting deposit and ended with a net profit of $4,856.50, with a maximum drawdown of 18.78%. A separate live signal claims $24,386.24 profit from a $1,000 deposit over 19 weeks, but with a maximum drawdown of 36.6%. Those figures are reported by the vendor and should be treated as historical examples rather than expected returns.
A 36.6% drawdown on the live signal means the account lost more than a third of its equity at some point, which is a significant risk. Traders should test the EA on a demo account with the intended risk percentage before committing real funds. Differences in spread, slippage and execution quality between the backtest environment and a live broker will affect results.
