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Onyx Simple MT5 is an expert advisor for XAUUSD on MetaTrader 5. It places pending stop orders at the previous day's high and low and manages each trade with a stop-loss, take-profit and trailing stop.
Get one message the moment it launches, with its price.
Onyx Simple MT5 is an expert advisor for MetaTrader 5 that trades gold (XAUUSD) on breakouts of the previous day's range. It is a stripped-down version of the author's larger Onyx MT5 expert advisor, with fewer inputs to adjust.
Each trading day the EA reads the high and low of the previous day. It then places two pending orders: a Buy Stop at the level of the high and a Sell Stop at the level of the low. If price breaks out through one of those levels, the matching order is triggered and a trade opens in the direction of the breakout.
Every trade carries a stop-loss and a take-profit. A trailing stop is also used, so the protective level follows price as the trade moves in your favour.
The EA is meant to run with its default settings, so there are few inputs. The one the author highlights is the GMT difference, which matters mainly when you test in the Strategy Tester.
| Input | Purpose | Note |
|---|---|---|
| GMT difference | Aligns the EA with your broker's server time | Enter it manually in the tester, as a positive or negative number. On demo and live accounts it is detected automatically. |
| Other inputs | Risk and trade management | Read the input list in the terminal after attaching the EA, as defaults can differ by setup. |
The author suggests a minimum deposit of 150 USD at 1:100 leverage. Treat that as a starting point only and confirm it against your own broker's margin rules and contract size for gold. Gold can move fast, and breakout entries can be filled at worse prices when spreads widen or news hits.
Trading carries risk, and past results do not predict future ones. Test the EA on a demo account before using it on a live account, and never trade with money you cannot afford to lose.
It suits traders who want a simple, rule-based gold breakout approach without many inputs to tune. If you already own the full Onyx MT5, this lighter version does not add anything new.
| Product type | Expert Advisor |
|---|---|
| Platform | MetaTrader 5 |
| Strategy focus | Gold or XAUUSD, Signals, Breakout |
| Delivery | Download from your account after purchase |
| License key | Not needed |
| Status | Launching soon |
| Category | Expert advisor |
| Market | XAUUSD (gold) |
| Timeframe | H1 suggested; the EA can be attached to any timeframe chart |
| Trade style | Daily-level breakout with pending stop orders |
| Trade management | Stop-loss, take-profit and trailing stop |
| Broker | Low spreads preferred on gold |
| Suggested minimum deposit | Author suggests 150 USD at 1:100 leverage; check with your broker |
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It is designed for XAUUSD, so attach it to a gold chart. Some brokers add a suffix or prefix to the symbol name, so check that your broker's gold symbol is the one on the chart.
No. This product is built for MetaTrader 5 and will not run on MetaTrader 4. Make sure your account is on the MT5 platform before buying.
The author says the default settings are intended for normal use and that the EA detects the GMT difference on its own on demo and live accounts. Open the inputs tab after attaching it and read each parameter before you trade.
In the tester the broker's server time offset cannot be read automatically, so you need to enter the GMT difference input by hand, as a positive or negative number. Check your broker's server time to work out the right value.
Probably not. This is a lighter version of that expert advisor and the author states it adds no new parameters, so owners of the full version gain nothing new.
No. Trading gold with leverage carries a high level of risk, and past results do not predict future ones. Test on a demo account first and only trade with money you can afford to lose.
Onyx Simple MT5
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