Detect stocks breaking above or below the first 5-minute candle range (9:15–9:20 AM) for intraday trading.
The Opening Range Breakout (ORB) strategy tracks the first 5-minute candle after market opens (9:15–9:20 AM). If the stock breaks above the ORB High, it signals a Breakout. If it drops below ORB Low, it signals a Breakdown.
| Symbol | LTP | Change % | ORB High | ORB Low | ORB Range | Position in Range | Signal | Volume | Open | Prev Close |
|---|---|---|---|---|---|---|---|---|---|---|
| No data available — market may be closed or ORB candle not yet formed. | ||||||||||
ORB is a popular intraday trading strategy. The "opening range" is defined by the high and low of the first 5-minute candle (9:15–9:20 AM). Stocks that break above this range tend to continue upward, and vice versa.
Long entry: When LTP crosses above ORB High — target R1/R2 pivot, stop loss at ORB Low.
Short entry: When LTP drops below ORB Low — target S1/S2 pivot, stop loss at ORB High.
The opening range plays a vital role in trading as it reflects the highest trading activity and price volatility of the session. Studies show that today's high or low is established during the opening period far more often than random chance would suggest. The ORB levels act as support and resistance for the rest of the trading day.
An Opening Range Breakout Indicator automatically detects ORB setups on any market or timeframe. It plots the opening range high and low on a chart and alerts traders when price breaks out of this range, saving time on manual monitoring.