This was how I solved the issue of keeping the arm raised when doing fret work. I used some pipe fittings, because that is what I had available. You could use a couple of small weights, or a small box filled with sand or just about anything for ballast.
After I built the box to go around the arm I then attached a board to go over the back of the saw. Then all I had to do was balance the weights and slide them back until it held the arm up. Now when I need to change blades or do fret work all I have to do is lift the arm and it stays up. It will not lift up on its own, but it takes very little effort to lift.
I hope this helps someone, it works well for me.

.................. John D....................