Outperform Indicator

This new "Outperform" indicator calculates the percentage of trading periods where a stock or an ETF outperforms a benchmark.

The indicator first gets the benchmark symbol. It then takes "period" and "count" as parameters. The "period" is the number of trading bars used to compare the currently analyzed security with the benchmark. The "count" is the number of periods to compare.

As an example, let us say that we are looking at the 1st Sep 2016 data of IWM and we have selected "SPY" as benchmark, specified 25 bars (approx. a month) as period and 3 as "count".
First the indicator will compare the August performance of IWM and SPY, then it compares the July performance of IWM and SPY and finally compare the June performance of IWM and SPY (count = 3).
If IWM outperformed SPY in two instances out of three, then the value that will be displayed is 66%

This means that a value of 100% indicates that the analyzed security outperformed the benchmark in every instance, while a value of 0% means that the analyzed security underperformed the benchmark in every instance.

Here is an example of a trading rules you can add in your trading system to purchase a security only if it outperformed the S&P 500 SPY in more than 70% of month-period in the past year.
buy = outperform("spy", 25, 12) > 70;

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