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.