Lux Algo is an indicator that provides us with signals using terminal indicators to analyze data. The presentation sounds wordy and unfriendly for beginners who understand little about Forex. The main claim is “Enhance Your Charts, Get Advanced Signals.”
Features
The presentation has much written, but few features:
- There’s a mention that over 90% of beginning traders never are successful in trading Forex.
- The indicator system allows putting human emotions away from trading, providing clear signals.
- It decreases chart noises to find real trades.
- Lux Algo was updated to the third version.
- It allows us to create our own strategy.
- To get this functionality, we have to sign in for this.
- We can find many trading signals on TradingView.
- The developers run a Discord channel with over 10000 investors worldwide.
- There are support, free educational programs, and many signals for all types of markets provided. It’s a kind of social trading.
- The Lux Algo indicator doesn’t repaint signals after providing.
- The signals are delivered by the indicator in real-time.
- There are free updates and upgrades for a lifetime.
- The subscription can be canceled anytime.
- The Discord channel has some trading ideas, without levels, marketing information, and developers’ promotions.
- The Indicator includes many features: Indicator Overlay Modes, Support and Resistance Methods, Lux Oscillator Indicator, BUY/SELL Signal modes, Candle Color Modes, Lux Dashboard, Lux Volatility Indicator.
How to start trading with Lux Algo
- There are three subscription-based packages introduced. The Monthly Lux Algo Premium subscription costs $67.99. It includes All-Inclusive Membership Access. The quarterly subscription costs $143.97 with $60 OFF. The Annual pack costs $489.99 with $325.89 OFF.
- Alas, we don’t have a refund policy that will cover our subscriptions.
Backtests
The developers didn’t provide any backtest of how the strategy works on the real past data to convince us that the product is well-designed.
Unverified Trading Results of Lux Algo
There are no trading results provided. How can we trust that the indicator truly provides great signals if the developers don’t trade them? We can’t be sure that the signals are truly accurate. If it was so, would the developers mind selling it? No. They would make money on their own.
People feedback
There’s a slider on the presentation with, of course, positive testimonials.
Lux Algo runs a page on TrustPilot with a 4.1 rate based on 98 reviews. There are many negative testimonials – over 19%.
As we can see, the person has tried it, but with no success. The developer denied refunding him.
The answer is that the developers don’t support people knowing that something doesn’t work properly.
This person mentioned that the indicator is always late to provide Entry Point, that using common MT4 indicators, we would trade better. The support doesn’t know the best settings for each currency pair and time frame.
The indicator is lagged.
Other notes
Frankly, we don’t know anything about these guys. They look so young for being experienced traders.
There’s only one chat to communicate with others.
Is Lux Algo a viable option?
We don’t think so. Good indicators have trading results and much affordable pricing.
Conclusion
Lux Algo Indicator was designed on many modes and minor indicators like Signal modes, Candle Color Modes, Lux Dashboard, Indicator Overlay Modes, Support and Resistance Methods, Lux Oscillator Indicator, Lux Volatility Indicator. The presentation is beginner-unfriendly. However, there’s nothing that a beginner trader can understand. The list of indicators says nothing to them – so no purchase. The price is insanely high. An average BUY/SELL indicator costs not higher than $80-$90 on MQL5 for the lifetime license. The developers ask $70 for a monthly subscription. The feedback shows that many people couldn’t handle it.
