The Index Value Plot shows either a positive or negative value as compared to the index value which is often zero.In this particular example, you can see the index value at zero and how the La Nina and El Nino compare to this index value.
Link: http://images.google.com/imgres?imgurl=http://www.skepticalscience.com/images/soi_2003_2008.gif&imgrefurl=http://www.skepticalscience.com/What-causes-short-term-changes-in-ocean-heat.html&usg=__7AiBJPKtfNrIeOkm4Gh0n2Imhoc=&h=311&w=450&sz=12&hl=en&start=6&sig2=SnyA1Sg6TdO1i--BAuaoNw&um=1&itbs=1&tbnid=UAmyjvR6zeDaHM:&tbnh=88&tbnw=127&prev=/images%3Fq%3Dsouthern%2Boscillation%2Bindex%26um%3D1%26hl%3Den%26client%3Dsafari%26sa%3DN%26rls%3Den%26tbs%3Disch:1&ei=2AnSS-e7I8P98Aasg-2sDw
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