Is there a way to use formulas within icon set-based conditional formatting?

I'm trying to compare D2 vs. C2, E2 vs. D2, etc..

I know I could create a helper table w values

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Would this work? You could then use conditional formatting for the colors.

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If D2 is greater than C2, then up green arrow, if the same ==, if down, down red arrow

You can make custom rules in conditional formatting

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