What you're describing sounds like various controls available with the system. What I'm actually seeing could be better described as a drawing. Let's see how I could better describe this...
Do you know how each weapon has a summary of itself within a retangle box on your screen when you are select it within your inventory? It basically says its name, followed by his power or defence rating and further folled by any enchantments you have on it? It also shows you the actual item and allows you to rotate it to look at it from all sides. Now, thinking about that rectangular box that I've just described, you'd find this symbol within that box in the upper left corner.
The stylistic arrow symbol is drawn in black 'ink' and has a green bacground around/behind most of it and this is piece of gear is the only item I have in my inventory with that symbol on it.
I'm trying hard to recall just what piece of gear that is and I almost want to say it is one of the dragon priest masks that I just got last night when beating one of them right after taking out an elder dragon.