💫 Summary
The video is a review and test results of the Lux Algo premium paid indicator on TradingView, where the creator tested six strategies and found that only two were profitable. They criticize the lack of profitability and value compared to free indicators available on TradingView.
✨ Highlights📊 Transcript
The video provides an unbiased review and test results of the Lux Algo premium paid indicator on TradingView, including the testing of different strategies and the profitability of each strategy.
The reviewer tested six strategies, four of which resulted in losses and two were profitable.
The Lux Algo premium indicator features colored candles and buy/sell signals to indicate trends and price ranges.
The video will discuss the indicator in more detail and provide the results of the profitable strategies.
The reviewer finds little value in the paid Lux Algo indicators, as they don't offer much more than the free indicators already available.
Lux Oscillator provides divergences and institutional activity signals.
Divergence signals were interesting and didn't repaint.
Buy and sell signals didn't perform well in trend trading tests.
The reviewer didn't test counter-trend trading strategies.
The Lux Algo provides various features and indicators for traders, including the ability to identify volatile moves and potential reversals or consolidations.
Lux Algo offers additional features beyond just indicators, such as a Discord group.
A user of Lux Algo shared a pros and cons list, highlighting different aspects and features of the platform.
The video briefly mentions two tested strategies with profitable results.
The video discusses two trading strategies - one based on institutions' moves and the other on divergences - and presents the results of 200 tests conducted on both strategies.
The institutional strategy involves entering a long position when everything is green and the institutions are on our side.
The stop loss is set to the trend tracer, and the target is two times the risk.
The divergent strategy uses a 200-period EMA as an outside indicator and focuses on the long-term trend direction.
The stop loss is placed below the swing low, and the target is three times the risk.
After running 200 tests on both strategies, the results are not great, with more losses than wins in both cases.
The Lux Algo indicators are difficult to make profitable, overpriced, and lack auto backtesting capability.
Took seven months of price data to test the euro against the US dollar.
Experienced 37,163 losses in a row with a maximum loss of eight.
Maximum gain on the account was 11.
Lux Algo provides free indicators and assistance on their Discord channel, but many of the indicators can be found for free on TradingView.
00:00welcome to trade pro in this video i'm
00:01going to give my unbiased review
00:04and test results of the lux algo
00:07premium paid indicator on tradingview
00:10this is a
00:10highly marketed and popular product so
00:14i've had a ton of requests to actually
00:16test it to see what the results are
00:19what i did was i searched on youtube to
00:22see what type of strategies people were
00:24using and recommending
00:25so four of my tests were done using
00:28youtube recommended trading strategies
00:31so i tested
00:32each one of these strategies 100 times
00:35and then i also did two strategies that
00:37i came up with just based on looking at
00:39the indicator
00:40and just kind of putting things together
00:44so out of those six strategies that i
00:47tested 100 times
00:48each two of them were profitable
00:52and four of them actually lost money so
00:55that is the basis of where we're going
00:58off of here
00:59so i'm gonna go um kind of into the
01:01indicator a little bit
01:02talk about my opinion what what i think
01:05about it
01:06of course you can form your own opinion
01:08it's only my personal opinion
01:11and then i'll go over the results of the
01:13two that were profitable
01:14so i'll talk about those strategies and
01:17which ones were actually profitable
01:19over the series of 100 trades that i
01:20tested so let's get into it
01:23all right so there are tons of different
01:25features for this
01:26indicator set and i can't go over
01:28everything or this video is going to end
01:30up being 45 minutes long
01:32but i'm just gonna quickly go through
01:33the different aspect of it and
01:35say what i think so just starting with
01:37the main set of
01:38indicators here the luxe algo premium
01:41says the
01:42big dog here that they really advertise
01:45a lot
01:46with the different colored candles and
01:49the buy and sell signals so if you've
01:52seen advertisements for lux algo you've
01:54probably seen
01:55these sort of signals to get a strong
01:58buy and then the
01:59green candles and the purple candles and
02:01the red candles so
02:03it color codes the candles depending on
02:05what the indicator thinks that the trend
02:08is or if it thinks that price is ranging
02:10so that
02:11is a interesting feature so you get
02:14these purple candles for ranges
02:16obviously green or red depending on
02:18uptrend or downtrend
02:20uh you get the buy and the sell signals
02:22um so
02:23strong buys you get normal buys you get
02:26strong cells
02:27normal cells so those are some of the
02:30unique features
02:32of this indicator and the other features
02:36are where i kind of have a bit of an
02:39now first thing is this right here up
02:42and down here they call it the reversal
02:44zones it's just bollinger bands
02:46and so you do have that for free already
02:50and then we have trend tracer and trend
02:53tracker these two lines here that switch
02:56red to green it's basically just super
02:58trend indicators
03:00and then you have okay this is really
03:03hard to see
03:04but this cloud right here
03:07and this cloud is essentially just ema
03:11so those few of those are not unique
03:16and you already have them for free on
03:17trading view but
03:20that better mean that you know these are
03:22useful these buying these sell signals
03:24and these
03:25colored candles and the reality is
03:28based on my test they are not actually
03:31profitable if you test them over a stage
03:33of 100 trades
03:35using you know an actual system of
03:40setting a stop loss and take profit
03:42target with a good risk to award ratio
03:45you know it doesn't produce profitable
03:49so that is kind of where
03:52i am with this the luxago premium
03:56main indicator we have a ton of
03:58different features in here
04:00which i can't go over all of them you
04:02can decide to do contrarian signals
04:04both confirmation and contrarian
04:06confirmation just means with the trend
04:08um and these are the actual buying the
04:10cell signals here
04:11signal mode you can change the
04:13sensitivity of the signals
04:15as well and of course you can change the
04:18the color
04:19candle mode um
04:22there's also this right here where you
04:24can have predictive ranges auto trend
04:26lines into two institutional profile
04:29you know this stuff is mostly just stuff
04:32that you have for free already the one
04:33thing that
04:34isn't is auto trend lines i don't
04:38know that i've seen this someone on the
04:40patreon actually told me about this and
04:43said to check it out
04:44so if i turn this on you're gonna see it
04:47will draw
04:47trend lines in all sorts of different
04:52so it'll draw transl trend lines for you
04:54can change the sensitivity of it so it
04:56will draw trend lines in different
04:59so that's one kind of unique feature
05:01about it i'm not sure that i've seen an
05:03indicator that
05:04does the same thing but for me
05:08you know it's not much of a use um so i
05:11don't see much value in any of
05:13that um if i pop up some of this other
05:15stuff you'll
05:16you'll recognize it so let me put up the
05:18institutional profile here
05:21you'll i think it puts it way on the far
05:23side here
05:24here it is so you know this is just a
05:27volume profile
05:28so what they do is they change the name
05:30of all of these things
05:31so like with bollinger bands and the
05:33super trans and
05:35institutional profile and you know they
05:38changed the name of it
05:39on the indicator you know to try and
05:42make it sound kind of special but
05:43it's really just looks a bit different
05:47maybe they changed something about it
05:49but it's pretty much the same thing that
05:51you have for free
05:52so i'm not finding a lot of value for me
05:55personally on this and obviously they
05:57what they say is you're supposed to use
05:59these tools in addition to your strategy
06:02kind of as confirmation extra give you
06:04an extra edge but
06:06i'm just not seeing what more it gives
06:08you than
06:10the free indicators that you already
06:12have so
06:15yeah well let's take a look at
06:19the other indicators so we have the lux
06:21oscillator which gives you divergences
06:24gives you institutional activity
06:28and you get this you know kind of an
06:31trend tracker a bunch of different
06:34things you get these
06:35buy signals green pluses on the bottom
06:39and you also get the cell signals
06:42on the top so
06:47yeah you know you get a bunch of
06:48different things here and
06:51i just don't see that it's any better
06:55other oscillators that you see the
06:58divergent signals of course i did test
07:00and that was one of my better tests so
07:02the divergence signals i found
07:04interesting that it actually can signal
07:06and so my hat is off to them for trying
07:10you know code divergence because
07:12divergence is subjective it's
07:14almost impossible to code it accurately
07:16of course it's not
07:17accurate so i'm not saying they did code
07:20it accurately but
07:21it's uh still interesting that they give
07:24it a shot
07:25and you know it doesn't repaint so um
07:29yeah really cool that they did do that
07:31i definitely approve of them trying to
07:34get divergent
07:35um scripted here um
07:39as far as the buy and the cell signals
07:40go yeah that was
07:42one of my tests and yet they were not
07:44they did not do anything good
07:46going with the trend um and obviously i
07:50didn't try any counter trend trading
07:52strategies because that's not
07:53what i do so every test i did was
07:57with the trend and then one of my tests
07:59was also with the institutional
08:01profile and what these are supposed to
08:03be saying
08:04is when there's institutional activity
08:06so these
08:07kind of brown bars and how they
08:11i believe kind of advertise it
08:15is that when there's institutional
08:17activity it's likely there's going to be
08:18a reversal
08:20but if you actually do the testing
08:24it's really random they pop up all over
08:26the place
08:27just like you know these signals where
08:30you can make it look really good at
08:31certain points but
08:32then you get two other points and it's
08:35just a mess where it's giving you
08:37all over the place so
08:41i don't know that you're getting more of
08:43an edge
08:45with this versus what you already have
08:48for free
08:48on trading view and then you have
08:52this lux metrics which right now is set
08:54to volatility
08:56and with this you can kind of see
09:00when there's a volatile move you get
09:03this to go
09:04into the overbought line which is here
09:06at 80
09:08and it will kind of change colors you
09:09know these it all looks really cool and
09:11it all looks nice
09:13so there what i guess what this is
09:15supposed to do is when you get
09:17into the overbought territory it's you
09:19know been really volatile and then you
09:21see it start cooling off it's likely
09:22going into a range
09:24so it could be either a reversal or a
09:26consolidation after one of these spikes
09:28above here
09:32so you know that's kind of the different
09:33aspects i don't want to go into each one
09:36and all their different features you
09:37know they do have a lot of features to
09:39work with so
09:40i will say you know that's awesome that
09:42they have a ton of different
09:44options different things that you can do
09:47try and make it work with your strategy
09:50and yeah okay i wanted to share
09:54this detailed pros and cons list that
09:57was sent to me from a
09:58user of lux algo who's had it for
10:01something like almost a year
10:03and they go into more detail about a lot
10:06of the things that
10:07i don't talk about in this because i
10:09focused on the indicators themselves and
10:11the type of results you can get
10:13using the indicators but they have a lot
10:15of other features like their discord
10:16group and such
10:18so this pros and cons list kind of goes
10:20more into those
10:21aspects of it this person only uses
10:24the auto trend line feature that i
10:26showed and nothing else
10:28about the lux algo anymore so
10:31that is kind of a little look into
10:34someone else's point of view and some of
10:36the other aspects
10:37um if you want to take a look at this
10:39all right quickly going over the two
10:41strategies that i
10:42tested that did have profitable results
10:45the first one i'm going to call the
10:46institutional activity strategy
10:49so with this one you need to see an
10:51institutional activity bar
10:53on the lux oscillator i got rid of
10:55everything else
10:56but the institutional activity bars so
10:58when you get an institutional activity
11:00bar that pops up
11:01such as right here we get our first oops
11:03right here
11:04and then you need to see that you're
11:07going with the trend so we need to see
11:09two of the same color trend tracing and
11:12trend catching lines which are basically
11:14super trends
11:15and essentially price also needs to be
11:18the ema ribbon and price needs to be
11:22or indicating that same direction trend
11:24at the same time that you get this
11:27bar because we're trying to get in with
11:29the institutions on
11:30that move okay so let's enter a long
11:34position here
11:35everything's green got the institutions
11:37on our side
11:38stop loss goes to the trend tracer
11:42and then we're targeting two times the
11:45so this is the one of the strategies i
11:49and let me show you the other one really
11:50fast the other strategy
11:52is a divergent strategy so it actually
11:55uses an
11:56outside indicator here which is a 200
11:58period ema
11:59set to the one hour time frame i'm on
12:02the 15 minute time frame
12:04and we want to be going with the long
12:05term trend direction so
12:07prices above the one hour 200 ema you
12:09can only take longs
12:10prices below the one hour 200 ema you
12:12can only take shorts
12:13if price is above we're looking for
12:15bullish divergent signals
12:16so we have a bullish divergence right
12:20and so we can take along right here
12:23and these divergent signals do not
12:25repaint the stop loss goes below the
12:28swing low
12:28and then targeting three times the risk
12:33and it looks like it does reach it all
12:37so that is the strategy for the
12:39divergences don't want to spend too much
12:40time on these and i'm going to run the
12:42200 tests
12:44on 100 times speed
13:40all right after the 200 test 100 on each
13:43strategy here are the results
13:45they are not all that great so going
13:48over the multi-time frame
13:49ema and the divergent strategy we had
13:52that done on the 15-minute time frame
13:54using a one-to-three risk reward ratio
13:56it was done on bitcoin against the us
13:58dollar in euro against the us dollar
14:00it took seven months of price data for
14:02the hundred trades there were 32 winners
14:04and 68 losses
14:05most losses in a row was 10 and the max
14:07wins in row is four
14:09gain on the account 28 then with the
14:12institutional trend following strategy
14:14there was done on the 30 minute time
14:17frame using a one to two risk reward
14:19on euro against the us dollar took seven
14:21months of price data
14:22and 37 163 losses max losses in a row
14:26was eight
14:27maximum narrow was four gain on the
14:29account 11
14:31so you know my overall opinion is that
14:34difficult to come up with something that
14:36is profitable with the lux
14:38algo indicators but i will say that they
14:40do provide a lot of free indicators
14:42on their discord channel and they do
14:45provide a lot of assistance and help if
14:46you have questions so
14:48you know the main thing that i would say
14:50is that it's just
14:51overpriced if they want to give
14:54something like this out maybe cut the
14:56price in half
14:57and a lot of it is just stuff that you
15:01find for free on trading view already
15:04and a huge issue i have with it is that
15:07you can't
15:08auto back test with it so
15:11for me personally it's it's useless i
15:13don't see any use in it
15:15obviously i already have a strategy that
15:18i use and i'm just reviewing this
15:20for the channel because it was requested
15:22but if i was to be searching for
15:25a new strategy for myself this would not
15:28be where i would look i would
15:30not need this i was actually wishing
15:33that i was using normal trading view
15:35indicators when i was doing these
15:38i would have rather just had normal
15:40bollinger bands and a normal macd
15:42or rsi to find the divergences instead
15:44of the signals
15:46and you know i can i've shown 20 plus
15:50better trend following strategies on the
15:53using the free indicators so it
15:55shouldn't be this hard to come up with
15:57something profitable and
15:59when they advertise that these are the
16:02only indicators you will ever need you
16:05know it
16:06they should have something a bit better
16:08in my opinion so
16:10um price should be cut in half
16:13don't advertise that these are the only
16:15indicators you will ever need
16:17and then i would be pretty happy so not
16:20terrible you know not helpful for me
16:23personally but
16:24maybe someone it has helped so
16:27yeah that's that's my review of the luxe
16:31and obviously i've only had it for a
16:33short period of time i've done six
16:34strategy tests on it
16:36but honestly i think that's more than
16:38most people do i don't think anyone
16:40actually tests it properly they don't
16:42actually run it through
16:44a sample of tests before they start
16:45trading it
16:47which would be typical for a lot of
16:49people who are getting into trading
16:52but yeah not
16:55not that special not that special so
16:58that's my review my only
16:59only my opinion so looks
17:02it's just my opinion you have a great
17:05great system
17:06amazing system everyone buy it great
17:09okay let's hear that don't sue me
Chat with video

FAQs about This YouTube Video

1. Is the Lux Algo premium indicator on TradingView worth the price?

The Lux Algo premium indicator on TradingView was tested in a review, and the results showed that it was not consistently profitable. The reviewer found that the indicator is overpriced and lacks value compared to free indicators already available on TradingView.

2. What were the test results of the Lux Algo premium indicator on TradingView?

The test results of the Lux Algo premium indicator on TradingView showed that various strategies were tested with both profitable and losing trades. Despite providing colored candles and buy/sell signals, the indicator was not consistently profitable.

3. What features does the Lux Algo premium indicator on TradingView provide?

The Lux Algo premium indicator on TradingView provides colored candles and buy/sell signals. However, the review of the indicator found that these features did not consistently result in profitable trades.

4. How does the Lux Algo premium indicator on TradingView compare to free indicators on TradingView?

The Lux Algo premium indicator on TradingView was found to lack value compared to the free indicators already available on TradingView, as the review showed that it was not consistently profitable and overpriced.

5. What was the conclusion of the review of the Lux Algo premium indicator on TradingView?

The conclusion of the review of the Lux Algo premium indicator on TradingView pointed out that it lacked consistency in profitability and was overpriced, making it less valuable compared to the free indicators already available on TradingView.

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