Code Golf: Lasers

Answer 1

Python - 152

Reads input from a file called "L"

A=open("L").read()
W=A.find('\n')+1
D=P=-1
while P<0:D+=1;P=A.find(">^

To read from stdin replace the first line with this

import os;A=os.read(0,1e9)

If you need lowercase true/false change the last line to

print`D<5`.lower()