The Dtx MT5 arrow indicator is based on two classic indicators: Stochastic and ATR. You do not see them on the chart, only the final result is offered to you. Signals are issued as medium blue and red dots.
The advantages of this indicator arrows for binary options include versatility - it shows decent results on both short and long timeframes. But still it is better to put on the M1 no more than 5 minutes, you can see the screenshots and analyze.
Message handling is standard: the red circle says that after the candle is closed you can buy DOWN; blue label - UP.