Thank you for the quick response. It helped me partially. The count of Actions formula doesn't always give the correct count. For instance in the example above, Count of actions is 1 for A2-10/2017 AND B1-11/2016 despite there being 2 open actions and 3 closed actions respectively.
I will try to expand the formula that you have provided and see if I can get the desired result.
Please disregard my earlier post Amit. I see what you have done here and it makes perfect sense now. So effectively the formula will hide all closed actions (if there are multiple actions some with open and others with closed status). If there are multiple actions all with closed status, it will keep all the closed actions in the view. Same for multiple actions with open status.
I guess this would work for me. Thanks again.