Onix EA Version 1.0 MT4 is a purpose-built Expert Advisor for MetaTrader 4, designed to capture small, consistent profits through a proven scalping strategy. Leveraging dynamic volatility filters and a built-in news protection module, Onix EA aims to minimize drawdowns and deliver steady growth whether the market is trending or ranging. In this detailed overview, we explore its core strategy, key features, recommended settings, and real-world performance metrics to help you decide if Onix EA suits your trading style.
Product Overview
Onix EA focuses on short-term price imbalances across major currency pairs. It monitors multiple timeframes in real time, enters micro-scalps during optimal liquidity windows, and employs strict risk controls to protect capital. Highlights include:
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Multi-Pair Scalping: Supports EURUSD, GBPUSD, USDJPY, and AUDUSD.
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Adaptive Volatility Filters: Uses ATR-based thresholds to confirm entry conditions only when volatility is within predefined bands.
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News Protection: Automatically suspends new trades 15 minutes before and after high-impact economic releases.
Key Features
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Multi-Timeframe Analysis: Combines signals from M5 and M15 charts to pinpoint high-probability scalping opportunities.
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Dynamic Lot Sizing: Auto-calculates lot sizes based on a percentage of account equity or allows manual lot entry for consistent position sizing.
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Fixed Stop-Loss & Take-Profit: Default SL of 10 pips and TP of 15 pips, both fully customizable.
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Trailing Stop: Once a trade is 5 pips in profit, Onix EA shifts SL to breakeven and trails by 5 pips thereafter.
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Time-Based Trading Windows: Restricts trading to London and New York sessions for maximum liquidity.
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Dashboard Interface: Real-time display of open positions, unrealized profit, and EA status directly on your MT4 chart.
Strategy Details
Onix EA’s scalping strategy is built around rapid entry and exit on micro price swings. The process is as follows:
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Signal Generation:
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Compute ATR(14) on M15.
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If ATR is between user-defined minimum and maximum, proceed.
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Confirm signal when the M5 price crosses a fast EMA (e.g., EMA 20) and RSI(14) is between 30–70.
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Order Execution:
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Place market order in signal direction with SL/TP levels based on fixed pips or ATR multiples.
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Limit maximum open trades per symbol to avoid overexposure.
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Risk Management & Exit Rules:
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Stop-Loss: 10 pips (default).
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Take-Profit: 15 pips (default).
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Breakeven & Trailing Stop: Move SL to breakeven +2 pips once 5 pips in profit; trail by 5 pips thereafter.
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Equity Protection: Halt trading if daily drawdown exceeds 3% of starting balance.
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By strictly limiting trade duration (typically under 30 minutes) and filtering out low-volatility periods, Onix EA reduces exposure to sudden market spikes.
Performance Metrics
Backtests on EURUSD (2019–2024, M15 data) indicate:
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Net Profit: +48%
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Maximum Drawdown: 9.2%
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Profit Factor: 1.75
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Win Rate: 61%
Forward testing on a live ECN account over three months showed a net gain of +12% with similar drawdown characteristics. Results will vary based on execution quality and account conditions.
How to Install
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Download
OnixEA_v1.0.ex4. -
In MT4, navigate to File → Open Data Folder → MQL4 → Experts.
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Paste the EA file and restart MT4.
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Attach “Onix EA Version 1.0” to your M15 chart.
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Configure inputs per your risk profile and enable AutoTrading.
Build With
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Language: MQL4
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Platform: MetaTrader 4
Pros & Cons
Pros:
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Precise scalping logic with volatility filtering
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Robust news event protection
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User-friendly dashboard and customizable parameters
Cons:
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Best suited to low-spread brokers
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Requires monitoring during major market shifts
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Not optimized for long-term trend following
Conclusion
Onix EA Version 1.0 MT4 is an excellent choice for traders seeking an automated scalping solution that balances profit potential with sound risk controls. Its combination of multi-timeframe signals, dynamic filters, and built-in protections makes it adaptable to both novice and experienced users. Always begin with a demo environment, calibrate settings to your broker, and then consider live deployment to harness its full capabilities.
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