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Lux Algo claims to enhance traders’ trading experience by creating intelligent tools that help people make informed trading decisions. The robot’s creators’ main aim is to turn trader confusion into clarity. Throughout this article, we perform an EA review of Lux Algo by looking at its stats, trading techniques, user reviews, and website to ensure you’re getting quality for your investment.
Table of Contents
What is Lux Algo?
Lux Algo is an algorithmic platform that offers forex tools, such as real-time alters, trading signals, and market trend indicators to ensure traders make the right decisions while trading. The bot works with both TradingView and Discord to ensure traders can get expert trading tools and ideas.
The EA gives you autonomy in trading because it’s not automated. Lux Algo’s developers made it as an extra trading tool to work with your principal trader, but you make the trading decisions. The signal’s data doesn’t repaint.
This concept and project are run by its creators Sean Mack, Alex Pierrefeu, Matther O’Hagan, and Alexander Friend. The creators look so young, it’s unbelievable to believe how much they’ve managed to achieve. It was created in 2020 to provide traders with a new way of getting a leg up in the Forex market.
To profit from these tools, you need to purchase the software. Each plan gives you access to an all-inclusive membership. You can choose the perfect payment plan for yourself from three options; a $67.99 monthly payment, $143.97 quarterly, or $489.99 yearly.
Subscription to this bot gives you access to:
- Premium Indicator Suite on TradingView
- VIP Discord Group w/ Scanners & Callouts
- Signal Settings Optimization Experience
- Real-time Alerts & Non-Repaint Signals
- Free Lifetime Updates and upgrades
- 24/7user Support
Lux Algo’s Features:
- Lux Algo has several indicators, including:
- Indicator Overlay Modes
- Lux Oscillator Indicator
- Buy/Sell Signal modes
- Lux Dashboard
- Lux Volatility Indicator
- Support and Resistance methods
- Candle Color modes
EA Review: Lux Algo
Lux Algo has a market noise cancellation feature using Heikin Ashi candles to analyze markets on behalf of the client automatically. The robot runs in TradingView, which is also compatible with Lux Algo’s three indicators. Tradingview will provide automated trading signals, optimization, and a whole community experience with lifetime updates to the tools you subscribed to.
Lux Algo doesn’t discriminate against timeframes; it supports frames such as 1m, 5m, 30m, 1H, 4H, 1D, 1W. The toolkits are multipurpose, and you can customize the tools for this. It’s user-friendly and favourable to amateur traders. There are toolkits on the website which you can use for swing trading and scalping. The robot works with regular candles to filter market noise so that it can capture the correct trends.
Lux Algo is responsible for market scanning using its predictive range strategy. The robot detects full ranges, and then they update the charts so that you traders know and understand the support and resistance areas.
The EA employs trend fitting prevention. Trend fitting is essentially a recovery method used by developers to make trading robots fit as closely to their historical data. This can be done by applying excess leverage for every trade to recover losses. The EA uses the Lux volatility indicator to portray the current market trends.
Because Lux Algo is a manual forex robot, both professional and manual traders should make sure they are knowledgeable in Forex. No matter how safe or profitable the robot is, there is still a significant risk involved in trading. Before doing any live trading, consider beginning with a demo account so that you can understand how the features and settings work. You will then be able to understand which features work best for you.
Gaining Access to Lux Algo
- You have to undergo a process to gain access to the robot. First, you’d have to create your user profile on Trading view.
- Then you have to sign up with Lux Algo.
- Go to charts, find invite-only-scripts and then add Lux Algo. This gives you access to the robot’s tools and features.
- You will get real-time alerts from Discord when the market changes.
- The good thing about this EA is that you are free to cancel your subscription at any time.
EA Review: Lux Algo Stats and User Reactions
This analysis starts with the bot’s website, which we must say is impressive. The professionals that made the website did a stellar job but forgot the most critical information.
Lux Algo doesn’t provide us with backtests, so we really can’t discuss its historical data. The website doesn’t provide us with live trading results either. This is quite a disappointment. The only thing they provide is lessons on trend signals. We, therefore, can’t perform a proper EA analysis of this robot.
We could also not get access to the robot’s live trading stats. There is an option to view the live performance on video, but it’s easy to make up these results, especially if independent 3rd party reviewers haven’t provided them.
Lux Algo has a 4.2 rating on Trustpilot, which is quite impressive.
Final Thoughts
Lux Algo was made by some of the most transparent vendors. They have provided us with the names and images of the team behind the robot, and it’s great to put a name and face to something you’re investing in, and the developers have impressive proven backgrounds in finance. The robot is suitable for both amateur and seasoned traders.
The robot costs a lot, and usually, this would be off-putting, but Algo has covered the market bases for their clients and provided many valuable features, which we think is worth the price.
This forex robot misses out on the most crucial information needed to make an informed decision: trading results. Without these results, we can’t offer any definite answer as to whether Algo is profitable or not. Even user reviews can lie, as it’s easy to pay people to write reviews. So until such a time as Lux Algo provides us with live, verified trading results, we don’t recommend trading with it. Lux Algo doesn’t offer any money-back guarantee for unsatisfied customers.