21st May 2022

Opening Range Breakout – Intraday Scans

Opening Range Breakout Scanner

The opening range breakout strategy is also known as the ORB strategy. Opening range breakout scanner is used to find such such stocks which are breaking opening range

Opening range breakout

It is one of the best strategies to create profits in the stock market, specially in intraday trading. The trading volume and volatility is high after the market opens. It generally cools after 30 or 45 mins.

How to Select Opening Range Breakout Stocks using Intraday Screener

  • In 30 mins ORB, you will find out the stocks, which has broken its range (Formed from 09:15 to 09:45 i.e., 30 mins)
  • The breakout will happen after 9:45 AM, and accordingly, you can take buy and sell positions
  • In 30 mins ORB + PRB, you will find out the stocks, which have broken its range (Formed from 09:15 to 09:45 i.e., 30 mins and also broken its Previous day’s high or low.) 
  • In 45 mins ORB, you will find out the stocks, which has broken its range (Formed from 09:15 to 10:00 i.e., 45 mins)
  • The breakout will happen after 10:00 AM, and accordingly, you can take buy and sell positions
  • In 45 mins ORB + PRB, you will find out the stocks, which have broken its range (Formed from 09:15 to 10:00 i.e., 45 mins and also broken its Previous day’s high or low.). 
  • Now, You have to check the market trend and stock trend.
    (It’ll be great if both of them correlate) 

Example:
Both Moving Upside and stock gave a breakout,
Can take the Buy Position and Vice-versa. To be more accurate

How to use the Opening Range Breakout Strategy?

Calculating and picking the right stock using the opening range breakout Scanner is an easy process. You can find the stocks breaking Opening range of 30 min, 45mins, 30mins ORB+PRB, 45mins ORB+PRB along with LTP, orb price, orb time. According to the breakout you can start taking positions.

Open Range Breakout – Example

Let us take an example of “UPL Ltd” stock in trading view which shows the opening range, high and low levels. Down below the image shows the opening range breakout at 10:15-10:30 AM (Candle) and also has broken its previous Day High. Meaning Bullish. So at 10:30 we take a Buy Position in UPL Ltd.

Opening Range Breakout Example