Index of Lowest Value (Bars Since Low) (MININDEX)

MININDEX returns the number of bars ago (index) where the lowest value occurred within the lookback period (default 30). Instead of returning the minimum value like MIN, it returns how long ago that minimum was reached. Output of 0 means the current bar is the low; output of 20 means the low was 20 bars ago. This quantifies recency of lows.

Traders use MININDEX to measure time since recent low, useful for detecting momentum building or exhaustion. When MININDEX increases, price is moving further from recent lows (potential strengthening). When MININDEX = 0, price just reached a new period low (potential capitulation). MININDEX is valuable for regime detection and timing entries after bounces from lows.