ORB Strategy Builder

Logic overview

Most of the Intraday strategy inherently follows range breakout principles, ORB is one of such famous principle. An opening range breakout (ORB) is a fairly simple strategy that involves taking a position when a price breaks above or below the open range high or low. This can be used for different time frames depending on your style and preference.

For better results, ORB could be used with other filters such as GAP, Previous Day High/Low, Volume etc.

Entry conditions

BUY : When price crosses above range high with applicable filters
SELL : On signal reverse, on hitting max loss/profit, on hitting target/stoploss, or square off time
SHORT : When price crosses below range low with applicable filters
COVER : On signal reverse, on hitting max loss/profit, on hitting target/stoploss, or square off time

Filters

There are multiple filters available for the users to choose from, you can use varies combination of this as well.

1. OHL : Open=High/Open=Low
This filter selects stocks where open equals to low for BUY or open equals to high for SHORT

2. PDHL : Previous Day High/Low
This filter selects stocks where open range high is higher than the previous day high for BUY and range low is lower than the previous day low for SHORT

3. PCTCHG : Minimum %change from Previous Close
This filter selects stocks where current %change is higher than the %applied from previous close for BUY and vice versa for SHORT

4. AVGVOL : Comparing with Average Volume of 3 months (EOD)
This filter selects stocks where open range volume is more than the %applied * Average Volume (this filter available only for NSE top 200 stocks)

5. AVGRNG : Comparing with Average Range of 3 months (EOD)
This filter selects stocks where open range is less than the %applied * Average Range (this filter available only for NSE top 200 stocks)

6. GAP : Gap Up/Down
This filter selects stocks where Gap up is more than the %applied for BUY and Gap down for SHORT

Download ORB Strategy builder

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