I don't think this device would be used for lucid dreaming attempts in the long term, but it can be set up quickly and cheaply thus helping you to find out if a lucid dreaming device (REM dreamer, Novadreamer etc) would be a good investment. (Many buy EILD devices only to find out the cues do not work for them.)

Lucid Dreaming Devices: Simple lucid dreaming set-up