Selected Hour Open Lines & Labels

This Pine Script v6 indicator, titled "Selected Hour Open Lines & Labels", draws customizable horizontal lines and optional labels at the opening price of user-selected hours on the chart.
Core Functionality

Users select specific hours (00:00 to 23:00) via boolean inputs to mark.
When a selected hour begins (in the chosen timezone), the script draws a horizontal line starting from that bar at the exact open price of the bar where the hour starts.
Lines extend forward for a configurable number of bars (default: 7).
Optional labels display the time (HH:MM) and/or the open price next to the line.

Timezone Handling

Choose between the chart's exchange timezone or a custom UTC offset (e.g., UTC-5 for EST).
This ensures accurate hour detection across different markets or sessions (e.g., London open, New York open, or any custom hour like Asian session starts).

Customization Options

Lines — Toggle visibility, color, width, style (solid/dashed/dotted), length in bars, and maximum number of lines (to prevent clutter; oldest lines delete automatically).
Labels — Toggle visibility, text format (time only or time + price), text color/size, background color, horizontal position (left/center/right along the line), vertical position (at line, above, or below with adjustable distance based on ATR), and maximum number of labels.

Compatibility and Limitations

Works best on intraday timeframes (5-minute to 2-hour+ charts); disables drawing on 1-minute or daily+ charts to avoid performance issues or irrelevant plotting.
Manages objects efficiently using arrays, with limits on max lines/labels (default 100 each) and overall script limits (up to 500).

Traders often use this to highlight key intraday levels like session opens (e.g., 08:00 for London stock/FX, 09:30 for NY equities) as potential support/resistance or reference points for price action. It's highly flexible for marking any specific hourly opens that align with your strategy.