Radar Tool
# of Legs
Description
Volatility-Weighted RSI (V-RSI)
N/A
The Firebird Volatility-Weighted RSI (V-RSI) modernizes standard momentum analysis by replacing static thresholds with adaptive "Overbought" and "Oversold" zones that dynamically expand and contract based on real-time Implied Volatility. By normalizing price action against market fear, this tool distinguishes between "true strength" driven by structural buying and "fake" momentum caused by thin liquidity, automatically filtering out low-quality signals that often trap traders. Traders leverage this insight to eliminate common "trend-fighting" errors, recognizing that during high-volatility breakouts, an "Overbought" reading is often a sign of strength to be ridden rather than a reversal signal to be faded. Consequently, the V-RSI allows for precision entries even in slow, grinding markets by tightening its sensitivity bands to uncover opportunities that standard indicators completely miss.
Momentum vs. Gamma Overlay
N/A
The Firebird Momentum vs. Gamma Overlay acts as a "physics engine" for your charts by superimposing institutional dealer hedging profiles directly onto standard momentum indicators to reveal the structural "friction" of the market,. By identifying critical "Zero-Gamma" flip points, this tool distinguishes between "High Friction" zones where dealer hedging will suffocate a rally and "Low Friction" environments where negative Gamma acts as an accelerator for explosive moves,. This overlay visualizes "Gamma Walls" that function as invisible gravity wells, allowing you to distinguish between a genuine breakout and a "leash" effect where liquidity is mathematically forced to suppress volatility,. Consequently, traders can avoid "Gamma Traps" by entering momentum trades only when the structural runway is clear, ensuring that dealer hedging flows are fueling your trade rather than fighting against it.
Correlation Heatmap (Technical Beta)
N/A
The Firebird Correlation Heatmap (Technical Beta) exposes the "invisible strings" connecting your portfolio by generating a dynamic matrix that calculates the real-time correlation coefficient between every asset you hold,. By calculating conditional "Technical Beta"—specifically analyzing how assets interact during market crashes versus rallies—this tool shatters the "Diversification Illusion," revealing if your seemingly diverse positions are actually just one giant, leveraged bet on the same factor,. It identifies dangerous "Clusters" where distinct sectors move in lockstep, while simultaneously locating the "Perfect Antagonist"—the specific asset that offers the strongest negative correlation for a precise, mathematical hedge,. Consequently, this insight allows you to move beyond "fake diversification," ensuring you are not accidentally doubling down on risk but are instead building a portfolio engineered to withstand volatility shocks.
Volatility Regime Detector
N/A
The Firebird Volatility Regime Detector acts as a strategic "weather station" that automatically categorizes the market into four distinct states—ranging from "The Grind" to "The Panic"—based on VIX levels and the fractal Hurst Exponent to measure price memory,,. This tool identifies critical "Transition Alerts" where the market shifts from stable to unstable, warning traders when low volatility has become a dangerous "coiled spring" poised for an explosive breakout,. By generating a "Strategy Compatibility Score," it objectively calculates the historical win probability of your specific trade setup against the current environment, ensuring you do not deploy mean-reverting strategies during trending conditions. Consequently, this insight allows you to stop guessing and systematically match your tactics to the market's physics, sizing up when the odds are in your favor and reducing exposure during unpredictable regime shifts.
Technical + Delta Alignment Scanner
N/A
The Firebird Technical + Delta Alignment Scanner acts as a "truth serum" for your charts by overlaying institutional Net Delta positioning directly onto technical patterns to verify if a breakout is mathematically supported by "smart money",. By distinguishing between hollow price moves and those backed by expanding Open Interest, this tool filters out dangerous "fake-outs" where the chart looks bullish but the options market is secretly positioned for a reversal,. It specifically flags critical divergences—such as price making new highs while Net Delta drops—to warn you when institutions are fading the trend despite the visual signal. Consequently, traders can execute with confidence, entering only those high-probability setups where the visual price action and the structural options flow are in perfect agreement.
RINA Index – The RINA index is a proprietary index that combines Select Total Net Profit, time in the market, and drawdown calculations into a single reward/risk ratio, that can be used to compare strategies The larger the number the more efficient/risk adverse the strategy.
RINA Index = (Select Total Net Profit)/((average drawdown) x (percent time in the market)) The TradeStation Strategy Performance Report displays the RINA Index for All Trades Only.
Adjusted Net Profit as % of Largest Loss – Displays the percentage of Adjusted Total Net Profit to the single worst unprofitable completed trade (see Note) during the specified period. Adjusted Net Profit / Largest Loss = Adjusted Total Net Profit divided by Largest Losing Trade.
Adjusted profit and loss is calculated by looking at the number of trades, subtracting the square root, multiplied by the average profit or loss. The concept here is that strategy may perform better live than the adjusted historical performance.
Takes into account commissions (and slippage, if specified for strategies) plus possible currency conversion factors.
Adjusted Net Profit as % of Max. Drawdown (Trade Close to Trade Close) – Displays the percentage return of the Adjusted Net Profit to the greatest loss drawdown, from the previous highest equity run-up, closed trade to closed trade, (including commissions and slippage if specified) looking across all trades, during the specified period. Adjusted Total Net Profit as % of Maximum Drawdown (Trade Close to Trade Close) = Adjusted Total Net Profit divided by Maximum Drawdown (Trade Close to Trade Close).
Adjusted profit and loss is calculated by looking at the number of trades, subtracting the square root, multiplied by the average profit or loss. The concept here is that strategy may perform better live than the adjusted historical performance.
Takes into account commissions (and slippage, if specified for strategies) plus possible currency conversion factors.
Largest Consecutive (Gain / (Loss) – Displays the largest profit or loss for a consecutive winning or losing series during the specified period for the strategy.
Win Rate – Displays the percentage of completed trades that were profitable, during the specified period. Percent Profitable = Winning Trades divided by Total Number of Trades.
% Time in Market – Displays the percentage of total time that your trades were in the market, either Long or Short, not including flat periods between trades (see Note). Generally, the greater amount of time you are in the market, the greater the risk exposure. Displays for All Trades only.
Percent of Time in the Market = Trading Period divided by Time in the Market
Takes into account commissions (and slippage, if specified for strategies).