> 0 outperforming
< 0 underperforming
Works best for weekly, but can be applied to monthly and . 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
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.