Lux Algo: The Startup Looking to Make Technical Analysis As Easy as 1, 2, 3 - Financial Daily News Site

Lux Algo: The Startup Looking to Make Technical Analysis As Easy as 1, 2, 3

The market crash is still going strong and with it, investors are struggling to keep their portfolios green. As Mark Cuban said: ”Everyone is a genius in a bull market,” which is a reality that most of those who joined during the bull market are now facing. Those who haven’t fled yet are now finding themselves in the need to understand complex concepts such as technical analysis to survive the winter. Fortunately, startups like Lux Algo are helping them do just that.

Founded in 2020 and based in Boston by Alex Friend and Sean Mack, Lux Algo was born with the mission to bring clarity to investors dealing with technical indicators. To do this, the startup launched a suite of tools on TradingView and Discord designed to help investors separate the noise from meaning when dealing with technical indicators. Advanced charting, profiles, signaling, and other tools are just some of the features developed by the team for this purpose.

At this time, Lux Algo’s platform is now used by over 50k traders all around the world, becoming one of the most popular vendors of technical analysis indicators. The platform’s tools can be used for scalping, swing trading, day trading, options trading, and much more across the stocks, indices, forex, futures, currencies, and commodities markets. 

As most beginners won’t be familiar with multiple investment strategies and markets, Lux Algo also gives special importance to education beyond platform tutorials. The startup offers resources that cover topics ranging from the basics of trading to advanced technical analysis indicators. This, in combination with the simplicity of the platform, makes for a tool that can help beginners navigate the current chaos.

Lux Algo’s Version 5, which was launched in late May of this year, is especially reflective of the startup’s mission. The release introduced presets designed to let users display multiple features based on their trading style. New oscillators and overlay indicators were introduced, in addition to a new toolkit, allowing users to better choose the indicator for specific market conditions.

With the markets being more volatile than ever, being on top of sudden fluctuations is increasingly important. Lux Algo also gives access to fine-tuned automated alerts that can be triggered by any condition the user sets for any specific asset. These alerts further increase the dynamism that the platform brings to the table, which is especially useful for high-frequency traders or long-term traders who want to avoid surprises.

In its effort to make smart investing as easy as possible, the Lux Algo team has also prioritized the creation of a strong community. The project’s official Discord server has over 5k users connected by their interest in trading. The server offers channels to discuss all things related to the platform, the markets, investment strategies, news, and much more. 

While there certainly is an emphasis on beginners and making technical analysis as easy as possible, this doesn’t mean that Lux Algo doesn’t pack a punch. In fact, the open-source projects run by Lux Algo in TradingView are some of the most popular. There are a total of 50 scripts liked by over 121k users, all of them covering a vast range of use cases and markets. The open-source nature of the scripts also means anyone can provide feedback, report bugs, and adapt them to their specific needs.

The democratization of the markets is a process that has gained momentum over the past years, with the fintech industry driving the effort. Unfortunately, opening the doors to the markets is not enough to truly level the playing field. Easing the technical barriers via powerful yet simple tools and education is just as important, especially during tumultuous times.

Juan Fajardo is a News Desk Editor at Grit Daily. He is a software developer, tech and blockchain enthusiast, and writer, areas in which he has contributed to several projects. A jack of all trades, he was born in Bogota, Colombia but currently lives in Argentina after having traveled extensively. Always with a new interest in mind and a passion for entrepreneurship, Juan is a news desk editor at Grit Daily where it covers everything related to the startup world.

Tags: #Lux #Algo #Startup #Technical #Analysis #Easy

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