We periodically push updates to our premium indicators to add new features. The current version of our main indicator is Lux Algo v2.9
How To Install Updates To Lux Algo
To receive an update: 1.) Refresh your browser or mobile app. 2.) Remove the indicator from your chart. 3.) Re-add it from your invite-only indicators.
A fully updated Lux Algo V2 Premium indicator should appear:
Tip: Make sure to save your chart layout on TradingView after successfully installing an update so you can ensure it will stay:
You can read through the complete Lux Algo Changelog of our updates since inception here.
The Lux Algo Signal input settings are described below:
Sensitivity - can be adjusted for reducing noise and decreasing or increasing the amount of signals per your chart. The higher the sensitivity the less signals appear. Best to adjust this first.
Agility - allows our algorithm to react more responsively to price movements - behaving like a subset of sensitivity. Optional setting you can adjust once Sensitivity is optimized.
Default settings = (4.75, 1.96) - These settings have been decided by our team as a good starting point for every market. They generally perform well although it is smart to adjust the settings to your liking / trading style.
To adjust settings, do the following on your chart:
Although we provide suggested settings by default, there are no "best settings" that make sense to mention because trading is very personal per asset and timeframe. It is smart to adjust the settings per the assets & timeframes you trade.
The scanners are found within our Discord server once you've been granted access to Lux Algo after purchasing.
We have thousands of Lux Algo signals setup from every major market in the server so you don't have to go through the headache of setting up all the alerts yourself on TradingView directly. These alerts are not meant to be followed blindly, they are ideas for potential trades.
You can also setup mobile push notifications in our Discord server for these alerts.
If you can't see these scanners in our Discord and you've already purchased, email support@luxalgo.com with your order number and Discord username and our team will grant you VIP access immediately.
We have thousands of automated alerts scanning every market 24/7 within our Discord server so you don't have to setup many alerts manually, although if you wish to setup your own custom alerts on TradingView you can follow the guide below: Click alerts on the right under your watchlist, select Lux Algo as your condition, whichever signal you want to be alerted on, and make sure to use "Once per bar close".
When you set up an alert, click "Continue anyway" (Read more info below)
**Our signals do NOT repaint, the reason this appears is due to the Lux Dashboard which is automatically removed from the previous candle & moved to the current candle which TradingView counts as repainting.
Best used during trending market conditions - the most widely used signals which give users a better ability to hold winning trades & take profit at better times.
"Strong" signals indicate a higher likelihood the Buy/Sell signal is going with the trend.
Contrarian Signals:
Best used only during ranging market conditions - these signals go against the trend and can help you take advantage of sideways market conditions.
Having two separate modes for Buy & Sell signals is a more realistic approach that gives users the options to take advantage of any market conditions rather than being limited to just one use case.
Green = Strong Buy signal active. Red = Strong Sell signal active. Purple = Normal Buy or Sell signal active.
Contrarian Candles Mode
Red = Indicates a potential reversal is detected. Violet = Indicates a reversal is *almost* detected. Blue = Continuation of the trend is likely, no reversal detected.
Control Candles Mode
Blue = Bulls in control. Red = Bears in control. Violet = Equal control between bulls vs bears.
Usability Tip: Enable an opposing candle color mode to your signal mode to see both sides of our algorithm at once. (e.g. using Confirmation Signals Mode & Contrarian Candles Mode or vice versa)
Within one simple panel on your chart, Lux Dashboard displays the most relevant data from all of our features in real-time.
The information on the dashboard aims to help you identify if a market is ranging or trending via seven (7) different features. Users see this information updated in real-time to help them get a better understanding of any market / timeframe.
Identifying the state of the market with Lux Dashboard can be extremely powerful for your trade decisions along with knowing which Signals Mode is likely to perform better.
This mode allows you to select 2 different & powerful indicators to display directly on your charts and compliment your trades.
Reversal Zones Mode - When enabled, two gradient colored bands will appear which are helpful for spotting areas where the market is likely to reverse. These can be great for early entries & taking profit alongside our buy & sell signals.
The Lux Algo EQ Cloud- When enabled, a gradient cloud will appear on your chart to help you with following trends & checking your directional bias.
How To Use EQ Cloud:
Price holding cleanly above the cloud = bullish Price holding cleanly below the cloud = bearish
By using these two powerful indicators together, you can spot many potential trade setups at once to use alongside our Buy & Sell signals for confirmation or create your own & unique strategy! You can select "Both" via the Indicator Overlay settings to display this on any chart.
The Predictive Support/Resistance method within Lux Algo is a novel and powerful algorithm able to identify & predict significant support and resistance levels in real-time.
With this feature, you can find relevant horizontal levels directly in real-time rather than after the fact which is powerful for finding early entries or take profit zones alongside our signals for confirmation.
Via the Support/Resistance Method dropdown menu, you can select other methods as well.
The Auto-Trend Lines plot directly on any ticker/timeframe to help you avoid the manual labor of drawing them and also can give you new perspectives in any market you may not have noticed before.
Lux Oscillator comes complementary with your subscription to Lux Algo V2. It can also be found in your Invite-Only Scripts after purchasing.
How To Use Lux Oscillator
- Lux Oscillator uses crosses to detect trend reversals. A red fill indicates a bear trend whereas a blue fill suggests a bullish trend.
- This combines the earliness of a stochastic whilst using the accuracy of moving averages.
- You can increase the "Length" in the input settings if you wish to adjust to your required asset and timeframe.
To understand divergences as shown in the image above, use this cheat sheet.
Spotting divergences with Lux Oscillator allows you to take some normal signals more seriously as potential trend reversals or opportunities for larger moves.
Lux Volatility (LV) comes complementary with your subscription Lux Algo V2 and can also be found within your invite-only scripts.
Lux Volatility (LV)
This indicator measures the volatility of any market from 0-100%. It's powerful for spotting ranging markets where it's likely smart to avoid trading or utilize the Contrarian Signals Mode.
LV provides great confluence for when to trust a trend to occur as well as spotting extremes in the market where impulse moves are likely to end.
Conclusion
Volatility low = Market is in a sideways state and a bigger impulse move is likely beginning to form.
Volatility high = Current impulse move is likely beginning to get exhausted.
Volatility normal = The current move likely has more room to continue.
Lux Algo works on any market internationally including stocks, indices, forex, futures and commodities on all timeframes including 1m, 5m, 30m, 1H, 4H, 1D, 1W, etc. You can utilize our system & signals for scalping, swing trading, or even trading options as well.
There is no "best timeframe" as it really 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 success.
We don't provide back-testing data or a specific % for it's accuracy since Lux was designed as a trading system with many different features to use alongside our signals.
We always put emphasis on using the signals for confirmation rather than following them blindly, hence why they are named "Confirmation Signals".
No bot or human can have a 100% hit rate in the markets. Most users of Lux just use the signals alongside our features as confluence for their trades. The Discord market scanner alerts we provide are to give potential trade ideas and are also not meant to be followed blidnly.
A signal is confirmed only once the candle is closed. Meaning a signal could appear on your chart but is not confirmed until that candle is closed and the next candle has started.
Our automated Discord bots will never notify you on any signal until the candle has closed and confirmed it. If you're adding alerts for Lux signals in TradingView - make sure to select "Once per bar close".
Lux Algo V2 works with normal candles, however, it can be useful for traders that are trying to identify longer, smoother trends to use Heikin Ashi Candles.
Although they are near the same, HA candles do not show the exact price by default. You can view the exact price of any ticker by applying the following setting:
The 'Use Heikin Ashi As Source' setting found within the settings of Lux Algo V2 is on by default to help smooth signals with Normal candlesticks. You can experiment with it as you wish.
Note: Backtesting using non-standard charts can produce misleading results. Read more regarding backtesting using non-standard charts here.
You don't need to upgrade TradingView, our product works with 100% functionality on the basic plan of TradingView (free). You can sign up for free here.
You don't need much experience to understand the signals & features provided by Lux.
However, trading can be difficult and takes time to learn regardless of our indicators on your charts. If you're new to trading / technical analysis in general, we recommend paper-trading at first until you get familiar with how it all works & build some confidence in the markets.
There is no magical indicator, algorithm, robot, EA, or signal provider that will enable you to effortlessly make money in the markets. You can learn more about how our indicators work here.
No, you are in full control of your trades. Lux was built to be used as a standalone trading system or just as an additional set of tools within your own analysis.
Our product works on TradingView(free web-based charting platform) and you can trade anywhere based on those charts, you won't be able to directly see Lux on MT4, MT5, or Thinkorswim charts.
TradingView supports real-time data for the majority of tickers you can find on the platform. Only a small portion of them (mostly futures contracts) require a small monthly fee to access real time data.
If you've already been given access to Lux Algo V2 after purchasing and you're seeing this alert, refresh your browser and make sure you're logged in on the TradingView profile you gave us.
If you have not signed up with us, you'll see this alert when trying to add our script to your chart. You can sign up here: https://luxalgo.com/products/lux-algo
You can cancel your subscription anytime by logging into your account on our site or by reaching out to support@luxalgo.com. Once your subscription has been cancelled, you will have access for the rest of your month or interval of the plan you purchased and you will not be charged again.
No, the price you signed up for is the price you will keep forever as long as you stay signed up. We will never change the price of your subscription. All members are grandfathered in to the price they first signed up at regardless of any price increases we do in the future.
After signing up, please allow us around 8 hours to grant you access to Lux Algo V2 on TradingView. It's a manual process by our team. Although, typically during the day, (EST) full access is granted much quicker and you'll receive a confirmation email with further instructions.
If you provided your Discord username during checkout (optional) you'll receive the VIP role at the same time. If you still need access to our VIP Discord alerts after signing up, send an email to support@luxalgo.com with your order number and Discord username and we'll take care of it as soon as possible.
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