Radar Tool
# of Legs
Description
Portfolio Skew and Kurtosis Monitor
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Based on the provided sources, the Portfolio Skew and Kurtosis Monitor is listed in the Table of Contents as a Phase 4 "Volatility & Risk-Based Tool" designed for portfolio analysis,. However, the specific descriptive text detailing the features, mechanics, and beneficial usage of this indicator is not present in the given source documents. Consequently, I cannot generate a supported description for this specific tool at this time.
Vega P/L Stress Tester
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The Firebird Vega P/L Stress Tester is a specialized risk analysis tool designed to quantify your portfolio's specific vulnerability to sudden shifts in market fear and panic. By simulating immediate "Vol Shocks," such as a 20% spike or 10% crash in the VIX, this indicator calculates exactly how your Profit & Loss would fluctuate independent of underlying stock price changes,. It exposes critical "Black Swan" risks where a portfolio may appear Delta-neutral and safe on the surface, yet remains dangerously exposed to a catastrophic drawdown if volatility expands rapidly. Consequently, this tool empowers traders to "earthquake-proof" their capital, ensuring they are not holding hidden negative Vega exposure that could wipe out their account during a market panic.
Implied vs. Realized Volatility Tracker
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The Firebird Implied vs. Realized Volatility Tracker serves as a critical reality-check tool that continuously monitors the spread between the market's priced-in expectations (Implied Volatility) and the asset's actual historical movement (Realized Volatility). By quantifying the gap between the "forecast" of option premiums and the "reality" of price action, this indicator objectively identifies whether options are mathematically overpriced or underpriced relative to the asset's true volatility profile,. Traders utilize this data to confidently time their entries, receiving clear signals to sell premium via strategies like Short Straddles when fear is artificially inflated, or to buy volatility when the market is dangerously complacent. Consequently, this tool prevents you from overpaying for "insurance" you don't need, ensuring every volatility trade relies on a statistical discrepancy between fear and fact rather than a guess.
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).