The indicator uses the fast and slow MA.
If FastMA[i-1]>SlowMA[i-1] and FastMA[i-2]<SlowMA[i-2] and FastMA[i]>SlowMA[i] - UP arrow
If FastMA[i-1]<SlowMA[i-1] and FastMA[i-2]>SlowMA[i-2] and FastMA[i]<SlowMA[i] - DN arrow
Fast MA is calculated for close price and slow MA is calculated for open price.
Download:
For this indicator must be installed Averages indicator (viewtopic.php?f=17&t=2430).