New LuxAlgo Signals & Overlays Update 6.0

Today we release the new major 6.0 version of our signal and overlay toolkit. This update affect a wide variety of important features, improving their performance.

New Confirmation Signals Algorithm

Improving our signals is something we always strive for. This update comes with an improved confirmation signal algorithm built from his predecessor. We made the algorithm more adaptive to its performance, this allows to remove the previous agility setting, allowing to drastically improve user experience.

The chart above shows comparative statistics between the new and old algorithms, showing a significant decrease in false signals percentage without a significant increase in lag. These statistics are obtained by adjusting the old confirmation signal algorithm to obtain the same number of generated signals by the new algorithm using default settings.

Improved Sensitivity Setting Optimisation

Prior to this new update, the optimal sensitivity returned settings was estimated trough a faster but less accurate method. Here we obtain optimized sensitivity values using grid search, backtesting confirmation and contrarian signals for sensitivity values in a range from 10 to 20 over the most recent 500 bars. This allows to obtain more accurate results compared to the previous optibot method, with the advantage of working on every ticker/timeframe supported by Tradingview.

Custom Alert Creator

Some of our users requested for the possibility to create alerts with more complex conditions, good news we implemented it!

Now users can be alerted for combinations of conditions, once they become true the users will get alerted.

Full Changelog

Added​

• Added price reaching Take Profit and Stop Loss as two new "Any alert() function call" conditions

Changed​

• New performance adaptive signal algorithm
• New more efficient contrarian signal algorithm
• The Optimal sensitivity algorithm is now based on grid search and allows for more precise results
• New more stable Reversal Zones
• New Trend Catcher less prone to greatly deviating from the price
• New more reactive Trend Tracer with greater degree of filtering
• Filtered alert creator (now custom alert creator) can now be independant of a user selected signal condition and alert on any combination of selected conditions
• Position of take profits/stop losses has been adjusted
• Changed signal terminology from buy/sell to bullish/bearish
• Minor changes

Removed​

• Removed EQ Cloud
• Removed signal Agility setting
• Removed compact signal modes