Opening Range Breakout Scanner (ORB)

Opening Range Breakout Scanner is a handy trading tool that scans the breaks of the stocks at an opening range of 15 minutes, 30 minutes, and 45 minutes.

Overall, it displays the ORB data and PRB data for the stocks to assist traders in gaining profits from intraday trading. Get more detailed information from the below modules.

‣ select category :-
‣ select breakout :-
Symbol LTP ORB Price ORB Time Deviation from Pivots Today's Range
PNB
133.10
▲4.85(3.78%)
131.25 9:45 a.m.
R2
R3
129.85
133.90
SBIN
766.10
▲15.65(2.09%)
765.50 3 p.m.
R2
R3
750.45
769.00

What is an Opening Range Breakout Strategy?

Opening Range Breakout Strategy is the most profitable strategy in the stock market. More importantly, it helps a lot in getting success in intraday trading. Once the market opens, the trading volume and volatility reach a high.

Basically, the timeframe and testing will define the opening range differently. Also, you should be aware of the high and low of the opening range. As they commonly deliver support and resistance levels for the day's trading session. This strategy can be used regularly by traders to aid in securing and raising their profits.

Why is the Opening Range crucial?

The opening range plays a vital role in trading as it shows high trading activity and price volatility which creates the atmosphere for the remaining period of trading in a day.

Clearly, some studies indicate that the probability of today's high or low being displayed at the time of opening of trading is much more often over a random walk appeared to indicate.

How Do You Choose Opening Range Breakout Stocks Using Our Tool?

Before selecting the breaking stocks, firstly, understand what our tool is going to provide you in the list and learn about each column.

  • Initially, knowing about the time that the breakout will occur is important.
  • Usually, this tool is offered to check the opening range breakout stock data in many timeframes like 30 mins ORB, 30 mins ORB+PRB, 45 mins ORB, 45 mins ORB+PRB, and 60 mins ORB+PRB, etc.
  • In 30 mins ORB, you will detect the stocks that have broken their open range (created from 09:15 AM to 09:45 AM). So, the breakout happens after 9:45 AM, and as a result, you can accept buy and sell positions.
  • In 30 mins ORB + PRB, you can determine the stocks that are broken its today's range from 09:15 AM to 09:45 AM and the Previous day’s High or Low.
  • Continually determine the broken stocks as per your needed timeframes.
  • Finally, you have to check the stock trend along with the market trend.
  • Also, we provide LTP, ORB Price, and ORB Time along with the required results.
  • Based on the complete breakout information, please start taking positions.

Laws for Opening Range Breakout

There are some of the laws or rules to be considered for an opening range breakout. Check them below: 

  • Stay focused for the first initial move to finish and it should be a powerful candle.
  • Volume must be obviously increased than the last day.
  • High the opening range must not break.
  • Price secure at a high of the day.
  • Decline or low volume on retracement candle. 
  • The price should be beyond VWap.
  • Entry over opening range high.
  • Exist under opening range low.  

What is the Opening Range Breakout Indicator?

Opening Range Breakout Indicator is a smart feature that determines opening range breakouts in any market of any time frame.

Conclusion

We hope this guide called Opening Range Breakout helped you to some extent. If you want to gain better knowledge on the same and other trading strategies, please follow our website @paisaalgo.com 

You can even check some of the most important intraday tools like Open High Low Scanner, Best Intraday Stocks, Intraday Stock Alerts, etc. for free of charge. INFY Pivot Point Calculator