Bond Yield Strength - 10Y MajorsBond Yield Strength — 10Y Majors
Track intraday momentum across the 8 major bond markets in a single panel. This indicator plots the change in 10-year government bond yields for USD, EUR, JPY, GBP, AUD, NZD, CAD and CHF, normalized to a common starting point so you can instantly see which currencies are catching a bid in the rates market — and which are getting sold.
What it shows
Each line represents how far a country's 10Y yield has moved (in basis points or %) since the start of the current period. All 8 lines start at zero on each reset, making relative strength immediately readable. A line climbing above zero means yields are rising in that country (typically bullish for the currency); a line falling below zero means yields are dropping.
The eight benchmarks tracked:
USD → US10Y (US Treasury)
EUR → DE10Y (German Bund, the eurozone benchmark)
JPY → JP10Y (JGB)
GBP → GB10Y (Gilt)
AUD → AU10Y
NZD → NZ10Y
CAD → CA10Y
CHF → CH10Y
Why it's useful
Rate differentials drive FX. When US yields rip while Bunds stay flat, EUR/USD usually feels it. This indicator gives you that read at a glance, without flipping between 8 separate charts. Particularly useful for:
Spotting which currencies have a yield tailwind heading into a session
Confirming or fading FX moves against the rates backdrop
Watching the reaction to central bank decisions, CPI releases, and bond auctions across all majors simultaneously
Identifying outliers (one yield diverging from the pack often precedes an FX move)
Settings
Display unit : basis points (default, the standard rates unit) or percent
Reset period : Daily, Weekly, or Monthly — choose your lookback horizon
Line thickness : 1 to 4
End-of-line labels : toggle currency tags with live values at the right edge of the chart
Day separators : optional dashed verticals at each session boundary
Recommended setup
Apply on a 24-hour symbol (e.g. FX:EURUSD or any major forex pair) on a 15m to 1h timeframe — bond symbols themselves don't trade overnight, so the chart's time axis needs to come from a continuously-quoted instrument. You can hide the underlying price plot via the chart's visibility toggle to keep only the yield indicator on screen.
Notes
DE10Y (German Bund) is used as the EUR proxy — it's the de facto eurozone benchmark used by rates desks globally. Data availability for some symbols depends on your TradingView plan; if a yield doesn't render, your plan may not include that exchange.
Feedback and suggestions welcome.
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