"Hold" Option for Status: Open, Won, Closed in Deals

I would like to add “Hold” as an option for Deal Status, because in a longer sales process. There are several open deals that are in a holding pattern. We have not won or lost them, but I would like to separate the Hold Deals from the Open Deals that are active proposals. These pending proposals are not Won or Lost, but there are Open deals that are warmer than the ones that are being pushed off for budgets of following year or indefinitely.