Ideas found to work on:
- Tradingview.com internal EMA crossover
- Jim Brown's books
- free indicators from Jim Brown's books
- Robert C. Miner's High Probably Trading Strategies
- Zeiierman or EzAlgo
- Bad behaviors: YOU YOURSELF HAVE TO BE A GOOD TRADER. People skip out on essentials like reframing your mind, controlling your emotions, and back testing.. AND THINK THEY CAN TRY TO MAKE MONEY OFF THE STOCK MARKET.
It's hot trash, I tried their backtesting script and even with a 60% win rate, you will lose money. They are so hopeless they have an inverse setting in their indicators where you buy on the sell signal and sell on the buy signal. Pure gambling. Any pre-build strategy built in Tradingview like ema crossover has a more consistent win rate and profit percentage.
They make lots of other free indicators that may be more useful. Chances are the logic of this indicator can be found for free from a developer trying to get started and creating the scripts so they can practice their coding. Indicator companies are in the business of creating indicators of course. They will make what sells and what customers want regardless if they ‘work’. Beer companies make advertising that make it seem like beer drinkers are always having a good time but there are also bad times as well.
If you are not yet profitable then paying for an indicator will generally not change that. If you understand the logic of the indicator then you can take trades on that. The indicator only reaffirms what you already know.
I've tried them and found them to be as inconsistent as any other indicator. Just because they have far more users than some of the other paid indicators, like Zeiierman or EzAlgo, doesn't mean they're better. It just means there are more desperate people trying to find an easier way. I continue to have more luck with the methods and free indicators from Jim Brown's books and Robert C. Miner's High Probably Trading Strategies than I did with any paid scam.
Unfortunately I purchased Zeiierman indicators and they are a crap. I mean, you can do the same trades using the common set of indicators included in Tradingview. They only sell indicators with a lot of paraphernalia (colors, many many settings, alerts and so on) but they explain their use in a blurred way without any solid strategy. It is the perfect subscription to burn money.
I have the Luxe Algo ultimate plan with the back testing. I have found with extensive back testing the profitability of this indicator shoots way up when you switch from normal candles to heiken ashi candles. I have with checked in the documentationand the software supports Heiken ashi candles, although when you try to backtest on trading view it gives a warning that, it might not be accurate due to using heiken ashi. Just ignore that It does not seem to make much of a difference in the signals, whether you have normal candles or heiken ashi on, but your profitability goes WAY UP. The main indicator that seems to make the most money is actually the matrix oscillator! Use that for your entries and Signals / overlays with heiken ashi just to montor uour trades. In the oscillator turn off money flow, turn on hyper wave, set it to its fastest settings, which would be 2 and SMA on 2 well. Back testing on the 1m charts with a $10,000 capital it made 64% ($6400) u could basically automate this trading and sit back and enjoy profits. It’s a valuable indicator. You just really need to look deeply into it and back test your strategies. Other profitable indicators include just using signals overlays, just the signals only on the 5 and 10m charts. I have successfuly did a trade today live on the 10m (just paper trade) it was $1400 in about 1 hour then it gave the exit signal. Pretty good software is completely worth it but you need to backtest first because thats the only way to know you have the right settings
I use price action concepts by lux algo and found it very useful. People who think LuxAlgo is total bs are idiots. LuxAlgo is a TOOL. YOU YOURSELF HAVE TO BE A GOOD TRADER. People skip out on essentials like reframing your mind, controlling your emotions, and back testing.. AND THINK THEY CAN TRY TO MAKE MONEY OFF THE STOCK MARKET. If you try to be a plumber with no plumbing experience, are you going to blame your wrench for not doing the work? Set it up properly and take trades alongside other indicators that you have (VWAP, EMA, Pivot Points etc). LuxAlgo price action concepts, AMAZING TOOL.
Inaccurate signals. LuxAlgo causes big trading losses.
From my experience with LuxAlgo, I would advise caution if you're considering this trading tool. I've encountered multiple issues that make it difficult to recommend. For starters, the tool often malfunctions, delivering inaccurate trading signals, which could potentially lead to significant losses. Moreover, there are ongoing technical issues, such as disappearing indicators, that require constant back-and-forth with their support team, who, despite my efforts, were unable to resolve the problems effectively.
Additionally, my attempts to get a refund due to these ongoing LuxAlgo issues were fruitless, adding to my overall dissatisfaction. The company's policy on refunds seems inflexible, even when their product fails to perform as promised. Given these serious LuxAlgo concerns about the tool's reliability and the quality of customer service, I suggest looking into more reliable alternatives in the market.
