ORB scanner (Opening Range Breakout) in Trade Ideas — practical setup¶

Opening Range Breakout (ORB) is simple in concept: define the first X minutes of the session, then trade the break above (or below) that range.

The hard part isn’t the idea — it’s building a scanner that: - doesn’t fire on garbage - doesn’t trigger late - and matches your time window and risk constraints

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Step 0 — Pick your ORB definition (don’t skip this)¶

You need to choose: - opening range duration (common: 1, 5, 15 minutes) - direction (break up, break down, or both) - whether you’re trading stocks in play only (recommended)

If you don’t define this first, you’ll end up with a scanner that “works” but doesn’t match your execution.

Step 1 — Start with a clean universe (liquidity first)¶

ORB is an execution-sensitive setup. Thin names will wreck fills.

Baseline filters to consider: - Minimum price (avoid sub-$1 noise unless that’s your lane) - Minimum average volume - Minimum relative volume (this is the quickest “is it moving today?” filter)

Related reading: - Liquidity filters - Relative volume

Step 2 — Add the opening range logic¶

In Trade Ideas, your scanner should reflect: - “is price breaking above the morning range high?” - “did it do so with volume / momentum?”

Practical note: ORB that triggers at 10:45 is usually not the same trade as ORB at 9:35.

So add time-of-day guardrails.

Related: - Time of day filter

Step 3 — Confirm it’s stocks in play (avoid dead breakouts)¶

ORB works best when the stock is already in play.

Signals that often matter: - unusual volume / relative volume - premarket activity - news catalyst (if you trade that lane) - clean levels (yesterday high, premarket high, round numbers)

Related: - Stocks in play - Premarket gappers template

Step 4 — Create alerts that don’t destroy your attention¶

Most people fail ORB with alerts, not with the strategy: - too many symbols - too many repeated triggers - no “first trigger only” rule

If you need a refresher on the window itself: - Alert Window tutorial - Alert Window tips (reduce noise)

Related: - Alert hygiene

Step 5 — Backtest the ORB lane (stop guessing)¶

Before you start “optimizing,” run a quick backtest so you know what’s actually working: - test different opening range lengths (1/5/15 minutes) - compare breakouts vs breakdowns - add/remove RVOL and liquidity filters to see signal density

A concrete example (so you’re not guessing)¶

Here’s a simple, realistic first test for an ORB-style lane: - Session: morning only - Entry window: something like 9:45 AM → 11:00 AM (after the first few minutes of chaos) - Goal: learn signal density and junk rate before you touch fancy exits

In OddsMaker (“Backtest Strategy”), set your entry time window to match your intent:

Optional: add a “market regime” filter (quick noise reducer)¶

If your ORB backtest looks great some days and awful other days, try adding a simple tape filter like S&P Change 30 Minute (%).

This is not about making the backtest pretty — it’s about preventing your ORB alerts from firing in the exact tape conditions you know you avoid.

If you haven’t used OddsMaker before, here’s the full walkthrough: - OddsMaker backtesting

Step 6 — Paper trade the workflow before “improving” it¶

A good ORB scanner is a workflow: - scan → shortlist → confirm levels → execute → review

Treat it like a system. Run it in sim, review false positives, then tighten filters.

Common mistakes (these kill ORB fast)¶

• No liquidity filters → you get chopped + slipped to death
• No time window → you’re trading random midday breaks
• No RVOL filter → you’re scanning dead charts
• Too many alerts → you miss the one that mattered

Next¶

• Backtesting workflow: OddsMaker backtesting
• Sim-first checklist: Paper trading checklist
• If you want a cleaner momentum lane: Momentum scanner settings
• For noise control: Alert hygiene