Through Global Navigation Satellite System (GNSS) occultation measurement, the global ionosphere and atmosphere can be observed. When the navigation satellites’ signal passes through the lower atmosphere, the rapid change of the atmospheric refractive index gradient will cause serious multipath phenomena in radio wave propagation. Atmospheric doppler frequency shift and amplitude signal fluctuations increase drastically. Due to the attenuation of signal amplitude and the rapid change of the Doppler frequency, the general phase locked loop (PLL) cannot work properly. Hence, a more stable tracking technology is needed to track the occultation signal passing through the lower atmosphere. In this paper, a mountain-top based radio occultation experiment is performed, where we employ an open-loop receiver and remove the navigation bits by the internal demodulation. In the process of the experiment, we adopt the open-loop tracking technique and there is no feedback between the observed signal and the control model. Specifically, taking the pseudo-range and doppler information from models as input, three key parameters, i.e., accurate code phase, carrier doppler and code doppler, can be obtained, and furthermore, the accurate accumulation is determined by them. For the full open-loop occultation data, a closed-loop observation assisted strategy is presented to compare the tracking results between open-loop and closed-loop occultation data. Through the compared results, we can determine whether the initial phase has been reversed or not, and obtain the high consistency corrected open-loop data that can be directly used for subsequent atmospheric parameters inversion. To verify the effect of open-loop tracking and open-loop inversion, we used the company’s self-developed occult receiver system for verification. The company’s self-developed occult receiver system supports Global Position System (GPS)/Beidou satellites constellation (BD, the 2nd and 3rd generations) dual systems. We have verified GPS and BD open-loop tracking and inversion, carried out in a three-week mountain-based experiment. We used closed-loop and open-loop strategies to track and capture the same navigation star to detect its acquisition effect. Finally, we counted the results of a week (we only listed the GPS data; BD’s effect is similar). The experimental results show that the open-loop has expanded the signal-cut-off angle by nearly 20% under the condition of counting all angles, while the open-loop has increased the signal-cut-off angle value by nearly 89% when only calculating the negative angle. Finally, the atmosphere profiles retrieved from observations in open-loop tracking mode are evaluated with the local observations of temperature, humidity and pressure provided by the Beijing Meteorological Bureau, and it is concluded that the error of open-loop tracking method is within ~4% in MSER (mean square error of relative error), which meets the accuracy of its applications (<5%, in MSER).