Using the daily open as an intraday bias tool
Posted: Sat Oct 31, 2026 11:44 pm
Some intraday traders use the daily opening price as a simple bias filter: look for longs only when price is above the open, and shorts only when below. The idea is that the open reflects the market's starting point, and trading in the direction of the day's move may improve odds.
A method to test: take an existing intraday strategy, add the filter, and compare results with and without it. The key metrics are expectancy and drawdown, not just win rate.
The definition of the open matters. It could be the server midnight, the New York close, or the London open. Each gives a different reference point, and results may vary.
A potential downside is that the filter may block good reversal trades early in the session, when price crosses the open frequently. Adding a delay or a buffer around the open can reduce noise.
This is a simple tool, but simple tools are easy to test and understand.
Does anyone use the daily open in this way?
A method to test: take an existing intraday strategy, add the filter, and compare results with and without it. The key metrics are expectancy and drawdown, not just win rate.
The definition of the open matters. It could be the server midnight, the New York close, or the London open. Each gives a different reference point, and results may vary.
A potential downside is that the filter may block good reversal trades early in the session, when price crosses the open frequently. Adding a delay or a buffer around the open can reduce noise.
This is a simple tool, but simple tools are easy to test and understand.
Does anyone use the daily open in this way?