Trading requires time, experience, and understanding factors that influence the market. Although some traders have become skilled at analyzing the market, knowing the perfect entry and exit points; however, for others, it is still a mystery. It can be solved with the Lux Algo Review.
Trading software is now a trending thing in the market that helps traders find opportunities in the market. Currently, trading software seems to be the main facilitators of analysis in various markets such as stocks, cryptocurrencies, and currencies.
Today, we will focus one such software that traders use in trading quite regularly. And that is the Lux Algo. With the Lux Algo Review, it will help you understand why this tool is a morale booster for traders who have lost the zeal of trading. Additionally, you will learn what differentiates Lux Algo from other trading tools in the financial market.
What is Lux Algo?
If you carry out a study on traders with one to four years’ experience in trading, you will discover that their two major problems or struggle is holding onto winning positions and taking a profit.
Lux Algo is a tool that enables traders to make and take profit while having patience for their trades to play itself out. There are a lot of features and strategies to use when using the Lux Algo tool, but the main features are the candlestick-coloring, buy and sell signals, and additional strong signals.
How does it work?
The tool comes with unique signal tags that enable traders to know when to enter the market. There are four signal tags to remember since these tags will determine how you use the tool. The strong green indicates a high likelihood of the market going bullish and a sign for traders to get into a long position.
However, a strong red represents a strong sell with a high possibility of a bearish trend. Furthermore, the buy tag indicator possible trend reversal but without a concrete confirmation pending when it becomes a strong buy. When you see the purple candles become active, it is time to take profit on your short positions while waiting for another strong signal to take off.
Finally, the “sell” indicates a trend reversal similar to the buy tag but requires a strong sell confirmation. Here, the best option is to take your profit if you are in a long position while waiting for the next strong signal.
Features of the Lux Aglo tool
Our Lux Algo review isn’t complete without talking about the features that seem to separate it from other platforms. Here are a few features we found appealing to trading.
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It contains everything you need to trade any market of your choice. It displays the volatility, trend, volume, current signal, and a suggested stop-loss peradventure the market goes against the analysis.
The dashboard displays the volatility level, which displays a warning sign whenever it is above 75%; this level means that the trade is losing steam or being exhausted. However, a reading below 25% represents a chopping area with the possibility that a big move is about to take place.
The trend helps traders to be cautious of the signal and is based on the Lux Oscillator. A sell signal occurs when the trend is still bullish overall and vice-versa when it is a buy signal. Importantly, with this, you can make a better decision before considering entering the market.
Another important feature of the dashboard is the “suggested stop,” which is the price the Lux Algo algorithm suggests for a stop-loss order to be placed. You can use it as a trailing stop-loss order to help lock your profit when trades are in your favor.
A key feature of the Lux Algo tool is its Lux oscillator, which uses crosses to detect trend reversals in the market. It uses a blue and red fill to represent a bullish and bearish trend, respectively.
Furthermore, you can change its input setting to fit your trading strategy – timeframe and asset. On the chart, it is displayed such that even a new trader can distinguish a bullish or bearish trend.
The lux Algo tool comes with volatility indicators that help traders check the volatility level of the market. The value ranges from 0 to 100%; whenever volatility stays within the 25% and 75% mark, it is an indication that the trend tends to continue.
What market can you use Lux Algo to Trade?
The Lux Algo V2 works in almost all financial markets, including futures, cryptocurrency, indices, stocks, forex, and commodities. Besides this, you can use it on all timeframes on these financial markets. What this means is that you can use the 1M, 5M, 30M, 1H, 4H, 1D, 1W, and 1MN on any trade of your choice.
There is really no exact best timeframe when using the Lux Algo tool since it depends upon the trading style and the current market conditions. While you can use it on higher timeframes, it is more successful when used for lower timeframes.
How much does it cost?
There are three subscriptions available for traders with each having the same features. However, the only difference is the duration of the subscription, which varies from one month, three-months, and a year.
The price for the monthly subscription is available at $67.99, whereas that of the three-month subscription is valued at $143.97. Furthermore, you can get it as low as $489.99 per year, which is about 39.9% discount if you were to pay monthly. The following are some of the features when you subscribe to any of the plans.
- Access to all Lux Algo script on TradingView
- Free lifetime updates
- Cancel anytime you desire
- Easy setup with 24/7 support system
- Real-time alerts with non-repaint signals
- Market scanners with VIP group on discord
Reviews from Users
While conducting this Lux Algo review, we discover that the trading tool has a rating of 4.5 stars with a total review of 32 persons from TrustPilot. For traders, this can be a positive sign that the signals can help traders hold winning positions while looking for good exit points in the market.
However, the only issue most traders complain about is the issue of trying out the tool before subscribing to the package. These traders are looking for a day or week free trial.
What we like
- Easy to set up
- Comes with real-time alert
What we don’t like
- No trial for first-timers
- Only works on TradingView
Summary Of Lux Algo Review
The Lux Algo Review contains everything you need to know about the Lux Algo trading tool that allows traders to hold your winning positions and taking a profit. It remains a good tool for new traders in the financial market to help maximize their profits.
Furthermore, you can seek through this link to get hands on more tools and indicators to add to your advantage.Lux Algo V2 works on any market internationally including stocks, indices, forex, crypto, futures and commodities on all timeframes including 1m, 5m, 30m, 1H, 4H, 1D, 1W, etc. There is no “best timeframe” as it all depends on the current market conditions, your trading style, and other factors. We generally recommend to try trading higher timeframes with Lux, but many of our users optimize Lux for lower timeframes and find suc.