Use this indicator to compare how security is performing in compare with preferred index ( SPX by default).
> 0 outperforming
< 0 underperforming
Works best for weekly, but can be applied to monthly and daily charts . It will be rather useless to use it in smaller timeframes
Apply it to SPX , industry index, sector index or other security in similar sector
UPDATE 1: Added sector and industry as optional params. Leave them same as index if you don't want to use them
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@Borsaliz, By default 200 for daily, 52 for weekly, 10 for monthly. It can be changed in settings. Stan Weinstein used 52 for weekly in his book, I wanted to adapt it for shorter and longer timeframes if you're switching between timeframes without the need to constantly change length of MA