The Turning point MT4 indicator displays the trend direction of the currency pair it is used on.

The arrows showing the direction appear 1 bar before the current bar.

Red arrow down displays the prevalence of bears on market, which is typical for the downward movement of the market.

Yellow arrow up displays the prevalence of bulls on market, which is typical for the upward movement of the market.

The indicator will be removed when the timeframe changes, and plotting will start from scratch. This is done in order to avoid arrows of one timeframe overlapping with the arrows of another timeframe, and to avoid confusion.