FX 2Y Spread AutoWhat it does
Plots the 2-year government bond yield spread for the current FX pair and timeframe youโre viewing.
Spread = Yield(Base currency) โ Yield(Quote currency), shown in percentage points (pp).
How it works
Display & own scale
If you overlay it on price, pin the indicator to its own scale so it doesnโt flatten against the FX price scale.
Where to find it: Hover the indicatorโs label, click More (โฏ) โ Pin to scale โ choose Left or Right.
Automatically maps each currency to its 2Y benchmark:
USDโUS02Y, EURโDE02Y, CADโCA02Y, CHFโCH02Y, GBPโGB02Y, AUDโAU02Y, NZDโNZ02Y, JPYโJP02Y
(EUR is represented by Germanyโs 2Y Schatz: DE02Y.)
Pulls yields from TVC: symbols (e.g., TVC:US02Y, TVC:DE02Y) using the chartโs timeframe.
Many yield series are daily; on intraday charts the script forward-fills the last daily value so you always see a continuous line.
Interpretation (rule of thumb)
Spread โ (Base yields rising relative to Quote) โ supports pair up (base currency appreciation).
Spread โ โ supports pair down.
Short-end spreads (2Y) mainly reflect policy expectations; price can still diverge short-term due to risk sentiment, commodities (e.g., oil for CAD), positioning, or different maturities driving the move.
Examples
EURUSD โ DE02Y โ US02Y
USDJPY โ US02Y โ JP02Y
EURCAD โ DE02Y โ CA02Y
โ ๏ธ Disclaimer
This indicator is for informational and analytical purposes only. It does not constitute financial advice, a trading signal, or a guarantee of future performance. Always perform your own research and consult with a qualified financial advisor before making trading decisions.
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