Rolling Minimum Index calculates and plots the bar offset to the lowest closing price over a user-defined lookback window using Pine Script's built-in lowestbars function.
1Copy the scriptPress Copy script above, or the copy button on the code below.
2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
4 lines of Pine Script v5 from lib/numerics/minindex/minindex.pine, published under Apache-2.0. Keep the author's credit and licence lines when you reuse it.
Plotted in a separate indicator pane, it outputs a negative integer representing how many bars ago the minimum price occurred within the lookback length. The main configurable parameter is the calculation period length.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
period
int
14
period
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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