The 5th element allows you to personalise your horse.
Thanks to this item your horse will benefit from an "element" coat randomly selected amongst the following 5 Air, Water, Fire , Earth and Metal. These coats come with added bonuses on your horse's skills :

Earth : Bonus + 3 in Dressage
Air : Bonus + 3 in Jumping
Fire : Bonus + 3 in Speed
Water: Bonus + 3 in Stamina
Metal : Bonus +3 in all skills"

NOTE: The 5th element will stop being sold in November.

Only horses of more than 3 years can benefit from the 5th element. The "element" coats are not passed on to the foals.

When a horse owns both a Golden Apple and a 5th Element, the bonuses of both items are added to one another. However the coat displayed on the horse will be the last Black market item applied to the horse. So if you give your horse a 5th element and he already had a Golden Apple coat, he'll have an Elemental coat not the Golden Apple coat.