An Opening Range Breakout (ORB) strategy enters when price closes beyond the high or low of the first 15 to 30 minutes of the session, exiting on an opposite signal or a stop at the other side of the range. To automate it on Rithmic with PickMyTrade, build the ORB logic as a TradingView alert, point its webhook at your PickMyTrade Rithmic connection, and PickMyTrade places the order the moment the alert fires, no manual entry required.
What Is an Opening Range Breakout Strategy?
Opening Range Breakout (ORB) is a rules-based day-trading strategy. You define the “opening range” as the high and low of the first 15 to 30 minutes of the session, then trade in the direction of the breakout: go long when a full candle closes above the range high, go short when it closes below the range low. Studies of the strategy show it underperforms on low-volume or low-volatility days, so most traders apply it only to liquid instruments during their regular session.
ORB Rules at a Glance
| Rule | Typical Setting |
|---|---|
| Opening range window | First 15 or 30 minutes of the regular session |
| Long entry | Full candle closes above the opening range high |
| Short entry | Full candle closes below the opening range low |
| Stop loss | Opposite side of the opening range, or its midpoint |
| Trades per session | One per side (one-and-done) |
| Risk per trade | 0.25% to 1% of account, predefined before entry |
Automating ORB on Rithmic with PickMyTrade
Rithmic is execution and market-data infrastructure accessed through a broker or prop firm, with co-located servers at CME’s Aurora data center giving low-latency order routing. That speed advantage matters most for ORB, since the strategy triggers right at the range breakout and a few milliseconds of routing delay can change your fill price during the volatile open. Connect your Rithmic-based account (including most prop-firm evaluations) in PickMyTrade, then point your ORB alert’s webhook at that connection.
For the full connection walkthrough, see Rithmic setup with PickMyTrade.
ORB Automation on Other Brokers
Frequently Asked Questions
Can I automate an ORB strategy on Rithmic without coding?
Yes. Build the ORB breakout logic as a TradingView alert condition (close above/below the opening range), paste your PickMyTrade webhook URL into the alert, and PickMyTrade routes the order to your Rithmic account automatically. No custom broker API code is required.
What opening range window works best for futures?
The first 15 or 30 minutes is most common for index futures. Highly liquid contracts can use a shorter 5 to 10 minute window since price discovery happens fast right after the open, but shorter windows also produce more false breakouts.
Is Rithmic faster than other feeds for an ORB strategy?
Generally yes for raw order routing, since Rithmic runs co-located servers at CME’s Aurora data center. For an ORB strategy specifically, that speed advantage is most noticeable right at the breakout candle close, when order flow and slippage tend to spike.
Disclaimer: This content is for informational purposes only and does not constitute financial or trading advice. Backtest and forward-test any strategy, including ORB, before trading it live.
