What are named functions?
Named functions are a new feature in Google Sheets that allow you to create custom functions based on native functions (and previously defined named functions) without writing any code.
The components of a named function include:
Function name
The name of the function you use to insert the function into a cell.
Function description
The description of the function that appears in the "About" section of the function help box.
Argument placeholders (optional)
Names that serve as placeholders for future inputs.
Formula definition
The written formula that you insert into a cell which can use argument placeholders if defined.
Additional details (optional)
Argument description
The description of arguments given in argument placeholders
Argument example
The description of arguments given in argument placeholders
For more information on named functions in Google Sheets, check out the official documentation.