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P1057/P0758 with flashing arrow light and CEL V70-XC70 1999

Check the solenoid wiring and ATF level first. Wiring is hard to get to.

Replacement of the solenoid:

https://www.matthewsvolvosite.com/forums/viewtopic.php?t=47779

Possible causes

Low transmission fluid level
Dirty transmission fluid
Faulty shift solenoid 'B' valve
Shift solenoid 'B' valve harness or connectors
Shift solenoid 'B' valve circuit is open or shorted

I believe the P1057 is just the TCM telling the ECM to turn on the CEL.

That you don't drive the car much could have caused the solenoid to become clogged with sludge.

If you drive the car, down shift to low when leaving a stopped position, then shift up yourself to lessen the wear on the bands.

It might be possible to resurrect the tranny by using Mobil1 ATF, but that is also a $100 flush and lots of driving.
--
Keeping it running is better than buying new






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