Yes the Arrow is valid ( was valid ) during that candle formation,
You can test
Open GBPUSD H1
Then use Period 11 you will get this Then Change period to 12, You will get this. Again change to Period 13, You will get this HOW TO USE HP Last IN TRADING
- Open H4 chart and add HP Last with period 7 | This will Give you intra_Day trading direction
- Then on lower Timeframe, m15 use HP with period 13 or Period 21
- Then if the last signal on H4 is BUY, then on lower timeframe you will take only BUY alert as as your Entry
NB | You can use other indicator on m15 to confrim your entries.
Below is GBPUSD H4, we have only BUY as our trading direction since 09/11