Volvo Repair: An arrow light on dashboard, flash flash flash, straight arrow

Question
My 1994 Volvo Turbo is a peach of a car but the past few weeks there is a light that is a straight arrow that comes on and off sporadically. It seems to come on when I start the car in the morning and then after it's been parked all day long sitting in the parking lot. It is the arrow next to the seat belt and the SLR lights on the dashboard. Can you tell me what it is - as my small towm mechanic isn't sure what it is either.
Thanks so much.
Maggie

Answer
it is the trans arrow light.it will flash if there is a fualt in the transmission mechanical or electrical portions.it will need to be looked at for a proper diagnosis.you could check for codes in the trans. control unit.

behind the passengers side head light are 2 small black boxes,1 marked A ,and 1 marked B.on box A there is a small wire insert the wire into the hole marked 1 then turn the ignition key to position 2 but not started.then on the box narked A push the small button for 1 second then release it.the small red light will flash a code back as a 3 digit number.there is a short pause between flashes for a single digit and long pause between the different numbers.example:
a 121 would look like this flash.....flash..flash....flash
write down each code,then after the first code repeats its self then press the button for 5 seconds the light will light when pressing button then go out when released,then the light will light steady again when it does press button fo 5 seconds again,this should have reset the check engine light.let me know the codes. i will tell what they refer to.
         Rege