Lux Algo is a system providing high-end Forex trading tools that you can use in conjunction with the charts on the TradingView website. As per vendor claims, this system lets you eliminate emotions from your trading, thus allowing you to place your trades with a practical and objective mindset. Using this software, you can get the best signals at opportune moments and develop your own strategies to perform better in the live market.
How Lux Algo Robot Works
On the homepage of the official website, the vendor has provided us with a brief overview of the system’s features and how it works, along with a few customer testimonials. There is a separate section called Resources, where you can find more details about installing the system and how to use the various features included in it.
The website also has a section where the vendor shows the 24*7 live performance for a demo account. In the Documentation section, we can find some useful information related to technical analysis, indicators, and best practices for trading.
Lux Algo was founded by Alexander Friend and Sean Mack in April 2020. Soon, members of the trading community came to know about it, due to the novel techniques it applied for filtering signals. The two founders later met Alex Pierrefeu, a Spanish national with extensive knowledge of technical analysis, who later became the lead developer for the system.
In order to use Lux Algo, you first need to open a profile on TradingView and then subscribe to the service. Its features include buy and sell signal modes, candle color modes, indicator overlay modes, support and resistance methods, etc. Lux Algo also has automated market scanners that identify potential trades and send you alerts on a regular basis.
Applied Strategies
This Forex automated system uses confirmation signals when the market is trending. These signals allow you to hold profitable trades and take your profits at opportune moments. When the market is ranging, Lux Algo uses contrarian signals that move against the trend and lets you capitalize on a sideways trending market.
It also uses the predictive range strategy for detecting full ranges and portraying them on a chart. When the market is ranging, this allows you to identify support and resistance areas. Moreover, it employs a predictive scheme to identify these areas in a live trading scenario. Market volatility is indicated by the Lux volatility indicator.
The vendor has not provided us with any backtesting data. So, we don’t know how the strategies developed with this system would have performed on historical data. The absence of backtesting results will no doubt disappoint some of the potential customers.
Lux Algo Trading Results
We don’t have any verified trading results for Lux Algo. While the vendor has provided us with the live streaming of a 24*7 demo account performance on the official website, this is not independently verified by a third-party. Serious Forex traders always look for trading results that are verified by websites like FXBlue and Myfxbook, and they might consider this as a red flag.
Pricing and Refund
Lux Algo is available for $67.99 per month, but you can also purchase the quarterly or yearly plans for $143.97 and $489.99 respectively. The subscription can be canceled at any time and free lifetime updates are provided by the vendor. You also get access to a VIP Discord group where you receive trading signals.
Compared to the average market price for Forex automated systems, this is not exactly cheap. But, considering the vast number of features offered by Lux Algo, we think the pricing packages are worth it. No money-back-guarantee is provided by the vendor for this service.
Customer Reviews
On the Trustpilot website, we found some customer reviews about Lux Algo. Most of them are quite positive, with one user mentioning how the toolbox has helped them achieve consistency in their trading. They have also praised the professional attitude of the customer service team and how frequently signals are provided on the discord channel.
Looking at the customer reviews, we can tell that his system has got a great reputation among traders. Many people have profited from using Lux Algo, which makes us think that this is not a scam service.
