Trading below the 15-minute opening range low while below VWAP.
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The Opening Range Low (15m) is the lowest price reached during the first 15 minutes of the session — the floor of the initial price discovery zone. "Close below Opening Range Low" means the current 5-minute bar has closed under that level, not merely touched it. VWAP (Volume Weighted Average Price) is calculated by dividing total dollar volume by total share volume from the open, weighting price by participation. A close below VWAP means the current price is below the average transaction price for the session — sellers have had the upper hand all day. The 15-minute session filter prevents the signal from firing before the opening range is fully formed.
This screen is most actionable when the gap between price and VWAP is widening, not compressing. If price is drifting toward VWAP from below, that suggests a potential reclaim rather than a continuation breakdown — a false signal for shorts. The strongest setups appear after a gap-down open where price fails to reclaim VWAP by 10:30 AM ET and then undercuts the ORB low with rising relative volume. Key failure modes: (1) opening range is too narrow — price breaks the low on minimal volatility and snaps back; (2) broad market rally pulls individual stocks above VWAP even if sector is weak; (3) late-session signals (after 2 PM ET) lose intraday conviction. Compare to the ORB 15m + VWAP Breakout screen, which is the mirror long-side signal.
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This screen finds stocks that have broken below the 15-minute Opening Range Low (ORB) and are also trading beneath the Volume Weighted Average Price (VWAP) — a dual-confirmation breakdown signal. The 15-minute opening range is the high-low band formed in the first 15 minutes of the NYSE session. Breaking below its low while under VWAP signals that both short-term structure and intraday average price are broken. Day traders and intraday short sellers use this to identify directional bias for continuation trades. Common search phrases: ORB breakdown VWAP, intraday short setup, opening range break stocks today.
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