The LuxAlgo SMC indicator is available on the TradingView platform for download. The indicator is listed under the “Top” section within TradingView’s library of algos, metrics and strategies. From this menu, you can add the script directly to your chart. The open-source script has over 100K boost and 3.3M views on the platform. With over 1,100 comments on the author’s page, some traders may consider it the #1 TradingView order block indicator.
In any case, this tool is one of the most widely used to identify key price levels, price action opportunities, and real-time market structure. As you can see above, LuxAlgo’s tools land many scripts in the top 10.
Here are some other top TradingView indicators and smart money concepts included:
- Squeeze Momentum Indicator
- SuperTrend
- Market Structure Break & Order Block
- Swing High Low Support & Resistance
Additionally, you can combine these tools to fit your unique trading style and goals.
Does Smart Money Concepts Work With LuxAlgo?
New traders sign up for the Premium or Ultimate plans to access paid versions for the SMC toolkit. Based on 1 month reviews, new traders find difficulty with using the various candle options, tweaking the advanced settings, and properly using the AI backtesting system. For novice traders, the LuxAlgo order block indicator settings may have a higher learning curve. Otherwise, you’ll have to monitor trades closely to ensure that your settings match your intended setups or entries. Just to be clear, many traders take years to become profitable. There is no “smart” indicator that will shortcut the years of experience it takes to hone a sound strategy. In the beginning, you may want to stick to the free indicator before stepping up to the paid version.
LuxAlgo vs Free Indicators
Carefully review the underlying features to select between LuxAlgo SMC and free indicators. Many beginners are tempted to rely on free EMA indicators for scalping, swing, and day trading. While these indicators may deliver short-term wins, you should rely on premium, market-tested, and advanced smart money concept indicators for an efficient setup. Compared to the premium features, many free indicators often lag, provide inaccurate signals, and trigger inconsistent results. Plus, you get can access advanced manuals, free YouTube tutorials, and customer support to integrate SMC signals into your setup. If you are a beginner looking to avoid expensive subscriptions, always use free indicators designed, managed, and audited by experts.
How Traders Use SMC Indicator Features?
Learn how expert traders use SMC indicator features with their trading setup. Typically, seasoned professionals combine LuxAlgo’s fair value gap signals, volume indicator to filter out additional errors, validate supply & demand, and evaluate safe entry points. Additionally, some traders may employ LuxAlgo’s SMC to:
- Analyze internal and external market liquidity
- Evaluate the supply & demand that triggered market gaps and market insufficiency
- Avoid delays due to inconsistent signals
Keep in mind that the integrated features may not help pinpoint the exact entry point. Instead, leverage SMC-powered setup to find a consolidation phase where volume spikes and forces the indicator to enter an order block. If the indicator spikes right before entering the OB, you may find a safer entry point for the current timeframe.
Advanced Features Available On LuxAlgo
At this point, you are ready to achieve your trading goals with Lux-Algo’s powerful SMC toolkit. This all-in-one trading indicator can help analyze real-time market structure and build custom strategies for your individual goals. You can analyze LuxAlgo support and resistance, swing market structures, order blocks, equal highs/lows, and order flows right on your charts – leading to efficient decisions. Once integrated, you can also configure the setup to automatically mark up charts, build comprehensive market strategies, and locate safer entry points – based on real-time market dynamics. If you are an expert looking to trade bigger, leverage SMC to decode how institutional market players may impact future movements. This way, you’ll find strategic entry and exit points that support price action goals.
