Opening Range Distance

Quick Reference

Property	Value
Dimension	signal
Category	momentum
Version	v1.0
Output Column	breakout_score

Distance of current price from opening range boundaries 鈥?breakout score

Formula

price

CDM Inputs

Column	CDM Table	Description
price	cdm_trade_enriched	Trade data enriched with bar context 鈥?price, volume, side, trade type

Parameters

Parameter	Type	Default	Description
open_range_start	string	09:30:00	Market open range start time (HH:MM:SS)
open_range_end	string	09:35:00	Market open range end time (HH:MM:SS)

Output

Column: breakout_score

Distance from opening range normalized by range width

Market Intuition & Trading Rationale

Opening range distance measures how far price has moved from the opening range (typically the first 5 minutes of trading). Breakouts from the opening range are among the most reliable intraday patterns 鈥?the opening range represents the market's initial price discovery, and a breakout signals that new information has shifted the equilibrium. The distance is measured in price units and can be normalized by the range width for cross-day comparability.

Usage Cases

• Opening range breakout (ORB): Buy when price breaks above the opening range high; sell when it breaks below the low. This is one of the most popular intraday strategies.
• False breakout filter: A breakout that immediately reverses back into the range is likely false. Confirm with volume 鈥?genuine ORBs have elevated volume.
• context: Primary signal in opening_range_breakout pack.

YAML Definition

name: opening_range_distance
description: Distance of current price from opening range boundaries 鈥?breakout score
category: momentum
dimension: signal
version: v0.9.0 (Beta)
required_inputs:
  - price
output_column: breakout_score
output_description: Distance from opening range normalized by range width
tags:
  - momentum
  - opening_range
  - signal
parameters:
  open_range_start:
    type: string
    description: Market open range start time (HH:MM:SS)
    required: false
    default: 09:30:00
  open_range_end:
    type: string
    description: Market open range end time (HH:MM:SS)
    required: false
    default: 09:35:00
formula: price