Hourly Trend Open Line

TradingView Indicator Publishing Prompt
Indicator Name: Hourly Trend Open Line

Short Title: HRLY OPEN

Type: Indicator

Source Code Language: Pine Script v6

Description and Key Features
Title: The Simplest Trend Filter: Hourly Trend Open Line (HRLY OPEN) 📈📉

Body:

Are you tired of complex indicators that clutter your chart? The Hourly Trend Open Line is a minimalist, powerful tool designed for traders who prioritize clean charts and high-timeframe trend conviction.

This indicator cuts through the noise by displaying the Open Price of the selected Trend Timeframe (defaults to the 1-Hour / 60-Minute chart) directly on your current chart.

Key Features:
High-Timeframe Trend Filter: Immediately identifies the direction of the dominant trend by comparing the current price to the open of the selected higher timeframe candle.

Visual Bias (Background Coloring):

Bullish Trend (Green Background): Current price is above the Trend Open Line.

Bearish Trend (Red Background): Current price is below the Trend Open Line.

Dynamic Reference Point: The Trend Open Line acts as a powerful mean-reversion level, serving as a dynamic support/resistance zone for lower timeframe entries.

Full Customization: Easily change the Trend Timeframe (e.g., to 4H, Daily, or 30m) and customize all colors for the line and the background zones.

How to Use It:
For Trend Following: Only look for Long entries when the background is Green (price above the line) and Short entries when the background is Red (price below the line).

For Mean Reversion: Use the Trend Open Line as a potential target or bounce zone. A retracement back to the line offers a potential continuation trade entry.

Keep your analysis focused and your decision-making fast. Add the Hourly Trend Open Line to your chart today!

TradingView Settings
Category: Trend / Trend Following

Style: Simple

Tags: trend-filter, hourly-open, open-price, support-resistance, mean-reversion, high-timeframe

Visibility: Public

🎨 Recommended Diagram Trigger
You should also include a clear visual demonstrating its function.