Dolphin EA MT4 ver1.0 (Platform build 1441+)

What is Dolphin EA?

Dolphin EA is an intelligent Expert Advisor (EA) for MetaTrader 4 (MT4), designed to generate steady profits using a hedging strategy. It starts with cautious entries and then applies advanced risk management mechanisms to minimize losses and automatically recover from unfavorable market moves.

The EA operates within predefined trading hours to avoid unnecessary volatility and maintain strict discipline. Its flexible parameters allow traders to balance high daily profit targets with clearly defined drawdown limits, delivering a safe and sustainable growth strategy for long-term trading success.

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Key Features

🔹 Active Hedging Strategy: The EA automatically opens counter-trades when the price moves sharply against the initial position, helping balance risk and support account recovery.
🔹 Conservative Trading & Efficient Scalping: Starts with small lot sizes to minimize risk, ideal for small accounts or testing phases, while still capturing short-term profit opportunities.
🔹 Adjustable Indicator Sensitivity: Allows fine-tuning of indicator responsiveness to reduce market noise and focus on high-quality trade setups.
🔹 ATR-Based Volatility Management: Utilizes ATR to measure market volatility, enabling the EA to automatically optimize Stop Loss (SL), Take Profit (TP), and filter trades in unfavorable conditions.
🔹 Time-Based Trading Filter: Restricts the EA to trade only during periods of good liquidity and stable market conditions, avoiding high-risk or unpredictable hours.

Dolphin EA MT4 Review

✅ Gain: +5.05%
✅ Deposits: $1,009
✅ Withdrawals: $1,060
✅ Monthly: 3.06%
✅ Drawdown: 1.06%

The Myfxbook results for the Dolphin EA, spanning from October 2020 to December 2020

Dolphin EA Setting

1. Load the EA

1. Open MetaTrader 4 (MT4).

2. Go to File → Open Data Folder → MQL4 → Experts and place the Dolphin EA file (.ex4 or .mq4) in the Experts folder.

3. Restart MT4 and check the Navigator → Expert Advisors section to ensure Dolphin EA appears.

4. Drag the EA onto your desired chart (preferably a major currency pair with moderate volatility).

5. Enable AutoTrading and ensure the smiley face appears in the top-right of the chart.

2. Input Settings Overview

Here’s a detailed explanation of the input parameters from your screenshot:

Lot & Profit Settings

• Base Lot Size (0.01)
  Starting lot size for the first trade. Recommended small for safety.

• Target Profit in Dollars (2.0)
  Closes all positions once this profit target in USD is reached.

• Daily Profit Target % (20%)
  Stops trading for the day after reaching 20% of the account balance.

Indicator & Volatility Settings

• Indicator Sensitivity (1–20) = 4
  Controls how sensitive the EA is to market signals.
  Lower = fewer trades, safer. Higher = more trades, riskier.

• ATR Length (14)
  Determines how market volatility is calculated to adjust hedge distances and SL/TP.

Hedge Control Settings

• Pip Range for Hedge Control (500)
  Distance in pips before a hedge position is opened.

• Max Hedge Cycles in Range (2)
  Maximum number of hedge positions within one range movement.

• Max Total Hedge Cycles (100)
  Absolute limit for hedge cycles to protect from runaway market conditions.

Trading Time & Filters

• Use Time Filter (true)
  EA only trades during specific hours to avoid low liquidity or high volatility periods.

• Trading Start Hour = 8 / End Hour = 18 (Server Time)
  Recommended to align with London/New York trading hours for stable volatility.

Risk Management

• Maximum Drawdown % (30%)
  EA will stop trading if the account experiences a 30% drawdown.

• Enable Alerts (true)
  Sends notifications for important EA actions (open, close, hedge).

3. Recommended Usage

1. Account Size: Minimum $500–$1000 for safety.

2. Pairs: Major currency pairs with moderate volatility (e.g., EURUSD, GBPUSD).

3. Timeframe: M15 or H1 for hedging strategy efficiency.

4. Lot Size: Start small to observe EA behavior before scaling.

5. Optimization: Adjust Indicator Sensitivity and Pip Range according to your broker’s spread and market volatility.

4. Safety Tips

• Always test on demo before using on a live account.

• Avoid enabling EA during high-impact news events.

• Regularly monitor drawdown and profit to ensure your settings match your risk tolerance.

• Combine with VPS hosting for 24/7 uninterrupted trading.

In the Downloads folder, there are:

✅ Experts: Dolphin EA v1.0_fix.ex4

>>> Reviewed by Micheal Elliot

Conclusion

Dolphin EA is an intelligent Expert Advisor (EA) for MetaTrader 4 (MT4), designed to deliver small but consistent profits by combining a hedging strategy with strict risk management. It is suitable for both beginners and professional traders, focusing on safe trade entries, optimal trading hours, and decisions driven by real market volatility.

The key strengths of Dolphin EA lie in its ATR-based volatility measurement, adjustable indicator sensitivity, and self-recovery hedging mechanism, allowing it to adapt quickly to sudden market changes, minimize risk, and maintain sustainable trading performance.