  We define a filtration by open substacks on the non-connective spectral
moduli stack of formal oriented groups, which simultaneously encodes and
relates the chromatic filtration of spectra and the height stratification of
the classical moduli stack of formal groups. Using this open filtration, we
express various classical constructions in chromatic homotopy theory, such as
chromatic localization, the monochromatic layer, and $K(n)$-localization, in
terms of restriction and completion of sheaves in non-connective spectral
algebraic geometry.
