array.min Function In Pinescript

In this tutorial, we’ll explore the array.min function in Pine Script, a powerful built-in function that allows you to find the minimum value in an array. We’ll cover its basic usage, dive into some practical examples, and learn how to optimize your trading strategies using this handy function.

Understanding the `array.min` Function

The array.min function is a built-in function in Pine Script that returns the minimum value within an array. This function is useful when you need to find the lowest value among a set of elements, such as the lowest price in a specified range or the lowest value of an indicator.

Syntax

The syntax for the array.min function is as follows:

array.min(array_name)

Parameters:

array_name: The name of the array for which you want to find the minimum value.

Return Value

The function returns a float, which is the minimum value in the specified array.

How to Use the `array.min` Function

To use the array.min function, you need to follow these steps:

Declare an array using the array.new_*() function, where the * represents the type of the array (e.g., array.new_float() for a float array).
Fill the array with the desired values.
Use the array.min() function to find the minimum value in the array.

Let’s look at two unique use case examples to better understand how to use the array.min function in Pine Script.

Example Use Case 1: Finding the Lowest Price in a Specific Range

In this example, we’ll use the array.min function to find the lowest price within a specified range.

//@version=5
indicator('Lowest Price in Range', shorttitle='LPR', overlay=true)
length = input.int(10, title='Range Length', minval=1)

// Initialize the array
prices_array = array.new_float(0)

// Fill the array with the lowest prices of the last 'length' bars
for i = 0 to length - 1 by 1
    array.unshift(prices_array, low[i])

// Find the lowest price
min_price = array.min(prices_array)

// Plot the lowest price

l = line.new(x1=bar_index[1], y1=min_price, x2=bar_index, y2=min_price, color=color.red, width=5)
line.delete(l[1])

Code Explanation:

We start by defining the script properties with the study() function.
We create an input for the user to define the range length.
We initialize an empty float array named prices_array.
We use a for loop to fill the prices_array with the lowest prices of the last length bars.
We find the minimum price using the array.min() function.
We plot the lowest price as a horizontal line on the chart.

Key Takeaways

The array.min function is a built-in function in Pine Script that helps you find the minimum value in an array.
This function can be used in various ways, such as finding the lowest price in a range or identifying local minimums for entry signals.
To use the array.min function, you need to declare an array, fill it with values, and then call the function.

Conclusion

In this tutorial, we covered the array.min function in Pine Script, its syntax, and how to use it effectively. We also explored two practical use case examples that demonstrated its potential in creating trading strategies. By mastering the array.min function, you can optimize your trading strategies and make better-informed decisions based on the minimum values of specific ranges or indicators.

Understanding the array.min Function