In this paper we analyze the potentialities behind the bank of correlators for the implementation of open-loop receivers. Instead of resorting to a pair of early-late complex correlators, a discriminator based on the difference of powers between the two correlators and a closed-loop that keeps the delay lock loop at a
stable working point, the open-loop architecture tries to
reconstruct the squared autocorrelation function in order to determine the position of its peak. This is accomplished by applying the sampling theorem to reconstruct the squared autocorrelation function from its samples obtained over a regular grid. In general,
spanning the interval [-Tc, Tc] is enough to evaluate the peak with a good accuracy. Performance obtained in non-multipath scenarios compares favourably with the conventional solutions. Besides, the algorithm is free from false code-locks.