is LuxAlgo a Scam?
In my Instagram feed, I seen a clip about how great LuxAlgo was. A chart was shown and the influencer said this was the best indicator available.
The other day I was searching for a candlestick pattern indicator, and LuxAlgo one Tradingview was the most popular.
The amount of data accrued blew me away, and I wanted to see the source code.
In reviewing the code, I discovered that they were using pivothigh, which means that they wait 21 candles before giving you a signal. It is similar to knowing the future.
In some comments, they claim that this is not suitable for real-time trading. I would like to know what the point is of an indicator that you cannot trade with. After 21 candles on the left and 21 candles on the right, their code tells you which point was a good sell signal or buy signal. Wow, you could do the same thing without that indicator.
Once you use this indicator, they try to convince you to purchase the premium version to use live trading. By doing so, they are earning a great deal of money.
If you check their other indicator, they use the same method to show perfect buy and sell signals, but to what purpose? Their premium indicator costs $67 per month, and they want you to buy it!
If you read comments about them on the internet, you will find users losing a lot of money using their indicator.
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