Learn to set up automated trading bots without coding using intuitive tools and strategies for consistent performance and risk management.
Automated trading without coding is now easier than ever. LuxAlgo provides drag-and-drop tools and pre-designed templates on TradingView that let you create trading bots. Here's a quick guide to get started:
- Why Use Trading Bots?
- Eliminate emotional trading decisions.
- Execute trades consistently based on predefined rules.
- Save time by automating strategies 24/7.
- Tools You’ll Need:
- A free TradingView account.
- LuxAlgo account (free Library access, Premium tools from $39.99 per month).
- Access to exclusive toolkits such as Price Action Concepts (PAC), Signals & Overlays, and Oscillator Matrix.
- Steps to Set Up Your Bot:
- Choose a trading strategy using the PAC, S&O, and OSC toolkits.
- Create alert rules to automate trade entries and exits.
- Backtest your strategy with the AI Backtesting Assistant.
- Run paper-trading tests to validate performance before going live.
- Risk Management Tips:
- Use ATR (Average True Range) to calculate position sizes and stop-loss levels.
- Monitor metrics like win rate, risk/reward ratio, and drawdown to optimise your strategy.
Quick Comparison of LuxAlgo Plans:
| Plan | Monthly Cost | Features |
|---|---|---|
| Free | $0 | Hundreds of free indicators in the LuxAlgo Library for five+ charting platforms. |
| Premium | $39.99 | All Library access plus PAC, S&O, and OSC toolkits with advanced signals and alerts on TradingView. |
| Ultimate | $59.99 | Everything in Premium plus the AI Backtesting Assistant and an advanced optimisation engine. |
Bottom Line: LuxAlgo makes no-code trading accessible with specialised indicators, screening tools, and an AI agent for creating trading strategies. Start with a clear plan, test thoroughly, and manage risks effectively.
How to Automate LuxAlgo Indicators | Full Tutorial
Required Tools and Setup
Get your no-code trading bot up and running with the right tools and platforms.
LuxAlgo Tools Overview
LuxAlgo integrates seamlessly with TradingView to power automated trading. It offers three exclusive toolkits:
- Price Action Concepts (PAC): Automatically identifies trading patterns and analyses market structure.
- Signals & Overlays: Provides real-time signals and custom overlay visuals.
- Oscillator Matrix: Tracks trends and detects divergences for better decision-making.
Each toolkit includes a screener and backtester so you can filter setups and test strategies. Once activated, these tools appear in TradingView under “Invite-only Scripts”.
Available Plans and Tools
LuxAlgo offers three subscription tiers to match your automation needs:
| Plan | Monthly Cost | Key Features |
|---|---|---|
| Free | $0 | - LuxAlgo Library indicators - Community resources |
| Premium | $39.99 | - Full PAC, S&O, and OSC toolkits - Scanner alerts - Advanced automation |
| Ultimate | $59.99 | - Everything in Premium - AI Backtesting Assistant - Weekly automated scanners |
Subscribe to your preferred plan, link your accounts via the LuxAlgo portal, and access the indicators from TradingView’s “Indicators” menu.
Setting Up Your First Bot
1. Choose Your Strategy
Select signals that match your trading style with the PAC, S&O, and OSC toolkits, then combine them into a cohesive strategy.
2. Create Alert Rules
Define entry and exit alerts using the Alert Creator in the LuxAlgo interface. Use variables like {ticker}, {timeframe}, and {close} to automate orders efficiently.
3. Test Historical Results
Upload your configuration to the AI Backtesting Assistant, select a six-month period, and review metrics such as win rate, profit factor, and maximum drawdown.
4. Run Paper Trading Tests
Enable paper trading in TradingView, risk only 1 – 2 % per trade, and track 20–30 simulated trades to verify performance matches your backtests.
Bot Management and Risk Control
Trade Size and Risk Limits
Calculate position size like this:
Position Size = (Account Risk Amount) / (ATR-Based Stop Distance)
Learn more in our detailed ATR article.
Further stop-management ideas:
- Move your stop to breakeven after a 1× ATR gain.
- Apply a trailing stop at 1.5× ATR.
- Use the PAC Screener to assess real-time market context.
Track and Update Performance
Regularly monitor key metrics such as win rate, risk/reward, drawdown, and profit factor to keep your strategy on-track.
Summary
With LuxAlgo’s toolkits and AI Backtesting Assistant, automating trading strategies without coding is straightforward. Combine clear alerts, comprehensive backtesting, and disciplined risk control to streamline your strategies while retaining full control over performance.
FAQs
Which LuxAlgo subscription plan is right for my trading style?
Choose a plan on the pricing page that fits your objectives: Free for exploring Library indicators, Premium for full PAC, S&O, and OSC toolkits, or Ultimate for the AI Backtesting Assistant.
What should I keep in mind when backtesting with LuxAlgo’s AI Backtesting Assistant?
The assistant tests 93 tickers over three timeframes (5 m, 15 m, 1 h) and uses a $10 000 starting balance while ignoring commissions and slippage.
How can I manage risk and adjust my trading strategy using LuxAlgo’s performance metrics?
Employ ATR-based sizing, track drawdown and profit factor, and re-optimise your settings regularly with the AI Backtesting Assistant.
