OFFSET Function

Returns a reference to a range that is a specified number of rows and columns from a cell or range of cells.

OFFSET(reference, rows, cols, [height], [width])

Height and Width are optional.

From a reference, system will determine the location by:

1. Moving down (+ve value) or up (-ve value) based on ROWS
2. Moving right (+ve value) or left (-ve value) based on COLS

Example:
Reference = A1
ROWS = 3
COLS = 2

Move 3 cells below cell A1 then 2 cells right after cell A1
RESULT = C4

OFFSET: Click to enlarge picture