The past few days there have been SPY alerts on trading floor whenever it reached support and resistance. I like the concept as it’s something we’ve been looking to do so I’ve taken it a step farther. Starting tomorrow the alerts will consist of BUY, SELL, STRONG BUY and STRONG SELL signals.
This is a small part of what we’ll be working on, but for now I think it’ll be somewhat useful for judging good entry and exit points intraday. The alerts are on the 5m timeframe currently.
If anyone has any other ideas for tickers or indicators that we should wire up to the alerts, post them here. The end goal of course will be for this sorta thing across all the tickers that we’re currently discussing on the forum.
What timeframe will the indicators be using for the signals?
Having used LuxAlgo this week, also keep in mind support/resistance when a signal is called. Don’t just smash the buy button.
I’m happy this is happening! I just hope it doesn’t clutter TF. If you want to start adding other tickers, it may be worth creating another alerts channel for it and putting them all there. Then people could opt-in to alerts, just like challenge-alerts or jb-scalp-alerts
This, 100%. I also use Lux and you will lose if you aren’t patient and wait for a good entry. The signals are very good, usually spot on.
Since we have so many people that utilize it, feel free to make suggestions on configuration. I think the 5m won’t be enough and I should probably wire alerts for 1m as well.
Mode is currently set to “Confirmations and Exits” and sensitivity is set to 6.
One thing I noticed today (as i was considering taking a trade on it) was the bot calling out a support being hit, then immediately calling that same level (+/- a few cents) resistance about 20 seconds later. Are there parameters that can be set so as to confirm one or the other rather than it calling it out based on the direction it was approached from?
That has been disabled for now anyway.
I find that I use the 1 minute fairly consistently (although I think LA recommends not using 1m - I read it somewhere but can’t remember where. Their discord? White paper maybe?). It’s just my comfort level though since I watch the 1m on Webull as well…I find that correlating the two is easiest, but that’s completely personal preference on my part. The 3 or 5 minute may be more accurate, but 1m is comfortable for me and I tend to not deviate from what works for me.
Everyone should read and take to heart Nano’s point above before following these signals. Without seeing the chart the alerts can be misleading. The 1min signals will fire on large volume spikes in the middle of a clear trend. If you’re not careful you can end up with a terrible entry opposite the trend. Today for example it called out a Buy and Strong Buy that only had 1 and 2 candles before continuing the downtrend. This is not a rare occurrence from my experience.
I’ve got a discord channel setup that was taking signals off the SPY 1min chart, I let it run from 4/18-4/21. I haven’t had time to comb through the callouts but I noticed it will alert multiple buy or sells for the same signal in rapid succession as the candles play out. Sometimes Lux will revert its signal altogether but still alert. This is probably user error on my part with how I had the alert settings but I haven’t had time to confirm by refining them and letting it run again. If there was a way alerts could be rate limited I think that would be ideal. I’ve also noticed that the signal doesn’t always fire at the most optimal time to buy in a candle. There have been times I followed an alert and it took longer than I would have liked for 2% because of the volatility we’ve seen.
The 3 and 5min autopilot alerts don’t fire nearly as often but will give signals in premarket and throughout the day that play out nicely with exit signals coming safely before a reversal. I’ve been using those to trade intraday for 2% of my account balance consistently.
Could you also add the exit signals if you aren’t already? They don’t always happen but they tend to give good guidance and provide multiple exits over a given trend. Today they gave 4 opportunities to exit before bottoming at 411.
@Jekyll_and_Hyde has tweaked LA quite a bit to give better signals, perhaps he might be willing to share his settings with you guys to see if that might improve its accuracy?
This is awesome! I’ll watch it for a bit to see how it goes. Sounds like a lot of folks have had consistent success with Lux.
This is the current config for LuxAlgo and the alert:
The Fib pivot points are using the “Fib Pivot Point Alerts” indicator set to weekly and the following alert config:
Lux itself is on the 5m timeframe and the pivots are on the 15m (looking for more established supports for the support notifications)
I’ve moved sensitivity up to 4, would’ve gotten the sell signal one 5m candle before. Won’t ever be perfect obviously but just looking for the happy medium at the moment.
It’s semi-accurate from what I’ve seen today. It’s not going to be the end-all for trading, but definitely has been helpful to get an idea of where the general direction is headed. Especially when it announces a buy and sell signal.
It seems to be decent. The caveat with these things is that they’re not foolproof and if you get too wrapped up in technicals you’re eventually going to get blown out by news or sentiment. However for intraday trading its very decent at calling areas to buy and sell.
The current alerts are still a little delayed, going to tweak the settings to a little more to get the alerts out a little quicker
Ive been using it with some kind of TA knowledge for this past trading week , currently still brushing up , and I have to say “context is everything”. One thing that I would thing we need to create an alert for is the close signal. Its the X that appears on the charts or the colored cross.