OneLeg First Setup, Step by Step

The first OneLeg setup has three stages: watch the gap without trading, set the entry and exit levels from what you saw, then trade a demo or the minimum lot and correct the levels from the log. This page walks through each step in order. Every setting mentioned links to its full description in the OneLeg settings reference. Make sure you have everything from before you start.

Stage 1. Connect and observe without trading

1. Choose the providers. In the FAST panel select the fast provider and its symbol, in the SLOW panel the broker account and its symbol, with MinLot and LotStep. Symbol names must match the provider exactly (for example XAUUSD, XAU/USD or XAUUSD.fc).
2. Set Point. Point is the price step of the symbol: 0.00001 for EURUSD, 0.001 for USDJPY, 0.01 for XAUUSD. All levels in points depend on it, so check it first.
3. Leave Long and Short off. Without Long / Short the strategy shows quotes and the gap but does not trade.
4. Turn on Chart and Save. Chart draws the Price and Gap charts; Save keeps a complete record of every tick of both providers.
5. Press START and watch an active session. Gaps appear mostly when the market moves fast, for example around the London and New York opens and during news. Check that both Time fields update and that the fast provider shows more ticks per second (Δτ).

Stage 2. Read the gap chart and set the entry level

The Gap chart shows how far the slow broker falls behind the fast feed. Most of the time the gap stays near zero; the trading opportunities are the short peaks above that noise.

Choose the OneLeg levels visually on the Gap chart. There is no backtest for OneLeg: the BackTester works only for OneLegMulti, OneLegHidden and TwoLegStandard. Watch the chart at your broker during the hours you plan to trade and set the levels from the peaks you see. The XAUUSD example shows how a real peak turns into a trade.

1. Note the typical peaks. Look at how high the clear peaks go in points and how often they appear, separately for Buy (positive gap) and Sell (negative gap).
2. Note the slow broker’s spread in the Spread field. The entry threshold includes it.
3. Set MinLevelOpen. A trade opens when the gap reaches MinLevelOpen + slow spread + Commission. Choose MinLevelOpen so that this threshold sits just below the main peaks you saw, not inside the everyday noise. Example from the reference: MinLevelOpen 20 and slow spread 13 → a Sell opens at a gap of about −33 pt.
4. AutoSettings changes the units. With AutoSettings on, MinLevelOpen, MinLevelClose, FixTP, FixSL and the trailing values are multiplied by the slow spread: spread 13 pt and MinLevelOpen 2 → 26 pt. Decide whether you use it before you enter levels.
5. Optional filters. MinGapForOpen adds a second minimum, MaxGapForOpen skips unrealistic gaps from bad data. Leave other entry filters at their defaults on the first run.

Stage 3. Set exits and protection

1. Choose how trades close. Either take profit and stop loss (FixTP, FixSL, optionally MinLevelClose for a reverse gap), or a timer (CloseTimer). When CloseTimer is above 0, FixTP, FixSL, Trailing and Breakeven are switched off.
2. Consider Smart close. Smart adjusts take profit and stop loss to the slippage of the entry and closes at once if slippage ate 80% or more of the gap.
3. Set MaxDD. MaxDD (default 10%) stops new entries when equity falls that far below its peak since start.
4. Be careful with spread filters. MinSpread, MaxSpread, MinSpreadSlow and MaxSpreadSlow block not only entries but every exit, including FixSL, while the spread is outside the range. If you use them, consider Real SL so the broker holds a stop loss too.
5. Optional: Execution Control. The Execution Control dialog pauses new trades when orders start to execute slowly.

Stage 4. Test, then trade small

1. Check the level on the Gap chart first. With trading still off, watch how many peaks cross the threshold (MinLevelOpen + slow spread + Commission) during a session. Raise MinLevelOpen if the gap crosses it in normal noise, lower it if even clear peaks stay below it. Remember that the chart does not show the slippage and execution delays of a live broker.
2. Allow trading with the smallest size. Set Lot to the minimum (or use a demo account), tick Long and/or Short, then press STOP and START: new settings apply only after a restart.
3. Turn on Log and Save for test sessions. Log writes gap and quote files to C:\Program Files\Westernpips Private 7\.logs\<strategy name>; Save records every tick to C:\Program Files\Westernpips Private 7\.data\<strategy name> as a complete record of the session.
4. Review the first trades in the log. After the first 20–50 trades read the strategy log: execution time, slippage on entry and exit, and how trades close (TP, SL, GAP, TIMER).
5. Correct one thing at a time. Many SL exits or large negative slippage usually mean the entry level is too low for this broker: raise MinLevelOpen. Very few trades mean it is too high or a filter is blocking. Change one setting, restart and collect new trades before the next change.
6. Save your set. When the results are stable, save the settings with the Save set button to a .preset file, and increase the volume gradually.

Next steps

• OneLeg key parameters with an XAUUSD example
• OneLeg troubleshooting: problems and solutions
• Full OneLeg settings reference
• Slippage: what it is and how to reduce it

Risk warning. Trading Forex, CFDs and cryptocurrencies with leverage carries a high risk of losing money. Results depend on the broker, its execution and rules, latency and settings; no profit is guaranteed. Test on a demo account first. Read the full risk warning.