In the fast-paced world of forex trading, manual entries and emotion-driven decisions often lead to missed opportunities or unnecessary losses. Enter Onix EA Version 1.0 MT4—a robust, fully automated solution designed to take the guesswork out of your trading. Built on a foundation of advanced algorithmic logic, Onix EA monitors market conditions 24/5, executes trades with razor-sharp precision, and employs adaptive risk management to protect your capital. Whether you’re a seasoned veteran or just starting out, you’ll appreciate how this MT4 expert advisor simplifies complex strategies into a set-and-forget tool. In this post, we’ll explore the core features of Onix EA, dive into the trading strategy behind it, and explain why this free forex EA deserves a spot in your toolkit.


Overview of Onix EA Version 1.0 MT4


Onix EA is a MetaTrader 4 expert advisor engineered to spot high-probability trade setups across major currency pairs. The heart of Onix EA’s design lies in its dual-filter system: a trend indicator to capture momentum moves and a volatility filter to avoid whipsaw markets. By combining these two filters, Onix EA enters trades only when both conditions align—keeping your drawdown low while maximizing profit potential.


Key highlights:




  • Multi-Pair Compatibility: Optimized for EURUSD, GBPUSD, USDJPY & AUDUSD.




  • Timeframe Flexibility: Recommended on H1, but fully configurable for M15–H4.




  • Adaptive Money Management: Dynamically adjusts lot size based on account equity.




  • Built-in Spread & Slippage Controls: Prevents entries during costly market spikes.




  • One-Click Installation: Get up and running in under a minute.





 


This MT4 expert advisor is coded in MQL4, uses minimal CPU resources, and works seamlessly on any VPS. The intuitive input panel exposes only the most critical parameters, so you don’t have to wade through confusing settings—just load Onix EA, set your risk tolerance, and hit “AutoTrading.”


Key Features




  • Dual-Filter Entry Logic – Combines trend strength and volatility thresholds for high-accuracy signals.




  • Risk-Based Lot Sizing – Calculates position size as a percentage of your balance, guarding your capital.




  • Configurable Stop-Loss & Take-Profit – Fine-tune exit levels to match your trading style.




  • Dynamic Break-Even – Automatically moves your stop-loss to breakeven once the trade is comfortably in profit.




  • News Avoidance – Integrated economic-news filter pauses trading around high-impact events.




  • Trailing Stop Option – Locks in gains by trailing your position as it moves in your favor.




  • Equity Protection – Built-in max-drawdown limiter closes all positions if risk limits are breached.




  • User-Friendly Dashboard – On-chart panel displays live P/L, trade history, and current market conditions.





 


Trading Strategy Behind Onix EA


At its core, Onix EA leverages a systematic strategy that balances trend following with volatility control—two critical pillars for consistent performance in forex automation. Here’s how the strategy works step by step:




  1. Trend Identification
    Onix EA employs a custom moving-average-based indicator to determine the prevailing trend direction. Only trades aligned with the trend are considered—long positions in an uptrend, shorts in a downtrend.




  2. Volatility Filter
    Before entry, the EA measures market volatility using an ATR (Average True Range) multiplier. If volatility falls below a user-defined threshold, Onix EA treats the market as “too quiet” and stands aside, reducing false breakouts.




  3. Signal Confirmation
    Once both trend and volatility conditions are met, the EA waits for a precise candlestick pattern—a breakout beyond recent swing highs (for longs) or swing lows (for shorts).




  4. Order Execution
    Onix EA places a pending order at the breakout level. If the market retraces, the EA automatically cancels and re-lands the order at the updated swing point—ensuring entries are timely and avoid whipsaws.




  5. Risk Management




    • Stop-Loss is set just beyond the last swing high/low.




    • Take-Profit uses a reward-to-risk ratio configurable from 1:1 up to 3:1.




    • Dynamic Lot Sizing scales your position based on a fixed percentage of your account (e.g., 1% risk).






  6. Trade Management
    After price moves favorably by a user-defined number of pips, Onix EA shifts stop-loss to breakeven, safeguarding your capital. A trailing stop can then lock in additional profits as the trade progresses.




This disciplined approach means Onix EA never “averages down” or chases losses with martingale-style grid orders. Instead, it systematically captures trending moves while avoiding sideways chop—resulting in a smoother equity curve and less stress for you as a trader.


Performance Snapshot


Although every trader’s results will vary, internal backtests on EURUSD H1 from January 2016 to December 2024 (using tick data) show:




  • Net Profit: +68% on a $10,000 deposit




  • Max Drawdown: 5.1%




  • Profit Factor: 1.72




  • Win Rate: 57%




Forward testing in a live-demo environment over the past three months averaged +2.3% monthly gains with drawdowns under 4%. These figures highlight how Onix EA’s strategy balances growth and risk control


 


 


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