Try this on DAX, 1-hour chart (add this indicator to the price chart, not below it):
 
 
		
		
			
			
			
			
				
					
				
					
				 
						Pips    =   60   *   pipsize           //Show only candles > 60 pips 
Offset  =   10   *   pipsize           //Offset above high/below low where we want an arrow to be displayed 
IF   Range   >=   Pips  THEN 
    IF   close   >   open   THEN 
       DRAWARROWUP (barindex ,low   -   (offset  /   pipsize ))  COLOURED (50 ,205 ,50 )
    ELSE 
       DRAWARROWDOWN (barindex ,high   +   (offset  /   pipsize ))  COLOURED (255 ,0 ,0 )
    ENDIF 
ENDIF 
RETURN 
 
					 
				
			 
		 
now try this slightly modified version:
 
 
		
		
			
			
			
			
				
					
				
					
				 
						DEFPARAM   CalculateOnLastBars   =   500 
ONCE   Pips    =   60   *   pipsize      //Show only candles > 60 pips 
ONCE   Offset  =   10   *   pipsize      //Offset above high/below low where we want an arrow to be displayed 
IF   Range   >=   Pips  THEN 
    IF   close   >   open   THEN 
       DRAWARROWUP (barindex ,low   -   (offset  /   pipsize ))  COLOURED (50 ,205 ,50 )
    ELSE 
       DRAWARROWDOWN (barindex ,high   +   (offset  /   pipsize ))  COLOURED (255 ,0 ,0 )
    ENDIF 
ENDIF 
RETURN 
 
					 
				
			 
		 
The latter one will show incorrect arrows due to a known bug with Range + DEFPARAM + ONCE.
After many months this bug is still there, will the new version address it?
Thank you.