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