Moving through timeline

I need to show a series of controls for a timeline bar in touch-screen application. The User will select particular time-frames on a timeline by moving controls at the start and at the end of the time-frame.

There are 2 ways in which these controls will be used:

  • User selects fixed position - time-frame doesn't move.
  • User selects floating position - time-frame moves forward so the time interval from "now" remains fixed.

Currently, we have arrows pointing right to indicate a fixed time, and arrows pointing down to indicate "now" or a time relative to "now"

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Is it easy to understand? Or is there a better way?