Opening Range Breakdown (Sell Side)
Price is up to 1% below the low of the first candle of the session, below VWAP, on 1.2x volume. Default is the 15-minute opening range. Switch to 5m or 1h to change the range size.
About This Scan
An opening range breakdown trades the move out of the first candle of the session to the downside. This scan lists NSE stocks whose price is up to 1% below the low of the first candle, below VWAP, on at least 1.2 times normal volume and Rs 5 Cr of last-session turnover. The default range is the first 15-minute candle. Pick 5m or 1h in the screener to change the range size. The list appears once the first candle has closed, and the 1% cap keeps it to fresh breakdowns, not stocks already extended. The mirror scan is Opening Range Breakout (Buy Side).
Scan Rules
Stock passes all of the below filters in the ALL segment using 15M candles:
- 1.Price vs First Candle Low % less than 0
- 2.Price vs First Candle Low % greater than or equal to -1
- 3.Close less than VWAP
- 4.Relative Volume greater than or equal to 1.2
- 5.Traded Value (Rs lakh) greater than or equal to 500
How To Use This Scan
- •The first candle's high is the usual stop reference. A close back inside the range makes the breakdown a failure.
- •Check the trend behind it. A breakdown in line with the index and the previous day's direction has more support.
- •For range options such as the previous-day range and a back-test, use the Intraday ORB Breakout page. This scan has not been back-tested for an edge.
Frequently Asked Questions
What is an opening range breakdown?
A move below the low of the first candle or first few candles of the session. Traders use the opening range as the first support and resistance of the day.
Which opening range does it use?
The first candle of the interval you select. On 15m it is the 9:15 to 9:30 candle, on 5m the 9:15 to 9:20 candle.
Why is the list empty early in the session?
The first candle must close before the range exists. On the 15m interval the list starts after 9:30.