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Black Viper MT4 is an expert advisor for MetaTrader 4 that places pending orders on range breakouts, mainly on gold (XAUUSD). It also has a separate news mode for NFP releases.
Get one message the moment it launches, with its price.
Black Viper is an expert advisor for MetaTrader 4 that trades range breakouts using pending orders. Its default configuration is aimed at gold (XAUUSD), and it includes a second mode for trading around the US Non-Farm Payrolls (NFP) release.
The expert advisor looks at a recent price range and places pending orders at the edges of that range. If price breaks out and reaches an order, the trade is opened. If it does not, nothing is entered. The system works with pending orders only, and it applies additional filters before placing them, so not every range produces an order.
In its normal mode the EA is meant to run on an M15 chart of XAUUSD. The default inputs are set up for gold, so many users start with them unchanged and adjust only after testing.
For news trading, the EA is used on an M1 chart. Two inputs matter most: the number of positions, which is the number of pending orders to be placed, and the release time. The release time should be entered a few seconds before the official announcement. For a release at 16:30:00, you would enter a time just before that rather than the exact second. Check how your broker's server time relates to the announcement time.
The exact list of inputs and their default values is shown in the EA's input window after you attach it. Confirm these on your own terminal instead of relying on any figure quoted elsewhere.
| Input | Purpose |
|---|---|
| Number of positions | How many pending orders are placed in NFP mode |
| NFP release time | Time at which orders are prepared, set slightly before the news release |
| Other inputs | Range, filter and risk options; review them in the input window |
Breakout and news trading can involve fast price moves, wider spreads and slippage, especially around data releases. Pending orders may fill at worse prices than expected. Use a demo account first, keep position sizes modest and do not risk money you cannot afford to lose.
Trading carries risk and past results do not predict future ones. This expert advisor does not remove the possibility of loss.
| Product type | Expert Advisor |
|---|---|
| Platform | MetaTrader 4 (expert advisor) |
| Strategy focus | Gold or XAUUSD, Breakout |
| Delivery | Download from your account after purchase |
| License key | Not needed |
| Status | Launching soon |
| Category | Expert advisor, automated trading |
| Main market | Gold (XAUUSD) |
| Day trading timeframe | M15 |
| NFP mode timeframe | M1 |
| Trade style | Range breakout with pending orders |
| Account type | ECN or low spread account preferred |
| Requirements | Algo trading enabled; terminal running continuously |
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No. This product is built for MetaTrader 4 and will not load in MetaTrader 5. If you use MT5, you need a version made for that platform.
The default settings are intended for XAUUSD. For the normal day trading mode, attach it to an M15 chart. For the NFP mode, use an M1 chart. Check that your broker's gold symbol name and contract specifications match what you expect.
An ECN or low spread account is recommended, because breakout orders are sensitive to spread and slippage. Compare your broker's typical gold spread with the spread guidance given for the product, and test on a demo account first.
Set the number of positions to the number of pending orders you want placed, and enter the release time a couple of seconds before the official news time, not at the exact second. For example, for a release at 16:30:00 you would enter a time just before it. Remember to account for your broker's server time.
It works with pending orders only. It places them at range breakout levels, subject to its filters, and they trigger only if price reaches them.
No. Trading carries risk, you can lose money, and past results do not predict future ones. Test on a demo account and size positions to a risk level you can accept.
Black Viper MT4
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