Opening Range High
Quick Reference
| Property | Value |
|---|---|
| Dimension | signal |
| Category | session |
| Version | v1.0 |
| Output Column | opening_range_high |
Highest trade price during the opening range period
Formula
trade_price
CDM Inputs
| Column | CDM Table | Description |
|---|---|---|
trade_price | cdm_trade_enriched | Trade data enriched with bar context — price, volume, side, trade type |
Parameters
| Parameter | Type | Default | Description |
|---|---|---|---|
open_time | string | 09:30 | Market open time (HH:MM) |
range_minutes | integer [1, 120] | 15 | Opening range duration in minutes |
Output
Column: opening_range_high
Session opening range high price
Market Intuition & Trading Rationale
Opening range high records the highest trade price observed during the opening range period (typically the first 15 minutes after market open). The opening range is a critical period of price discovery — after a night of accumulated news, orders, and information, the first minutes of trading concentrate the highest volume and most intense order flow of the entire session. The high of this range forms a natural resistance level for the remainder of the trading day.
The opening range high derives its significance from the concentration of informed and uninformed flow at the open. Overnight orders (both institutional and retail) are executed in the opening auction and the first minutes of continuous trading. The high of the opening range represents the highest price at which any participant was willing to buy during this concentrated discovery period. A subsequent breakout above this level signals that new buying interest has emerged that exceeds the initial concentrated demand.
The open_time parameter allows customization for markets with different trading hours or for pre-market opening ranges. For U.S. equities, the standard open is 09:30 ET. For futures, the open may differ by product (e.g., 09:30 for index futures, 08:20 for bond futures, varying for commodities). The range_minutes parameter controls the duration of the opening range — 15 minutes is standard, but shorter ranges (5–10 minutes) produce tighter levels, while longer ranges (30–60 minutes) incorporate more price discovery but may blend the opening frenzy with early-session trend development.
Opening range high is typically used in conjunction with opening_range_low to define the opening range boundaries. Breakout strategies use these levels as entry and stop placement references. The opening range high also serves as an input to derived features like opening_range_distance (distance from current price to range boundaries) and opening_volume_shock (volume intensity during the opening range).
Usage Cases
- Opening range breakout (ORB): Buy when price breaks above the opening_range_high. Place a stop at the lower of opening_range_low or a fixed ATR-based distance below entry.
- Resistance level for intraday trading: Use opening_range_high as a dynamic resistance level. Short near this level in a weak market, exit long positions if price fails to break through on the first test.
- Pre-market assessment: Compare opening_range_high to pre-market price levels. A wide spread between pre-market and opening range indicates significant overnight information and potential for a trending session.
YAML Definition
name: opening_range_high
description: Highest trade price during the opening range period
category: session
version: v0.9.0 (Beta)
dimension: signal
required_inputs:
- cdm_trade_enriched.trade_price
output_column: opening_range_high
output_description: Session opening range high price
tags:
- opening_range
- session
- signal
parameters:
open_time:
type: string
description: Market open time (HH:MM)
required: false
default: 09:30
range_minutes:
type: integer
description: Opening range duration in minutes
required: false
default: 15
constraints:
min: 1
max: 120
formula: trade_price