Shadow Edge (Example)

This script tracks hourly price extremes (highs/lows) and their equilibrium (midpoint), plotting them as dynamic reference lines on your chart. It helps visualize intraday support/resistance levels and potential price boundaries.

Key Features
Previous Hour Levels (Static Lines):

PH (Previous Hour High): Red line.

PL (Previous Hour Low): Green line.

P.EQ (Previous Hour Equilibrium): Blue midpoint between PH and PL.

Current Hour Levels (Dynamic/Dotted Lines):

MuEH (Current Hour High): Yellow dashed line (updates in real-time).

MuEL (Current Hour Low): Orange dashed line (updates in real-time).

Labels: Clear text labels on the right edge of the chart for easy readability.

How It Works
Hourly Tracking:

Detects new hours using the hour(time) function.

Resets high/low values at the start of each hour.

Stores the previous hour’s PH, PL, and P.EQ when a new hour begins.

Dynamic Updates:

Continuously updates MuEH and MuEL during the current hour to reflect the latest extremes.

Customization
Toggle visibility of lines via inputs:

Enable/disable PH, PL, P.EQ, MuEH, MuEL individually.

Adjustable colors and line styles (solid for previous hour, dashed for current hour).

Use Case
Intraday Traders: Identify hourly ranges, breakout/retracement opportunities, or mean-reversion setups.

Visual Reference: Quickly see where price is relative to recent hourly activity.

Technical Notes
Overlay: Plots directly on the price chart.

Efficiency: Uses var variables to preserve values between bars.

Labels: Only appear on the latest bar to avoid clutter.

This tool simplifies intraday price action analysis by combining historical and real-time hourly data into a single visual framework.