Preset for Adobe After Effects v16.x (CC2019) or newer.
Why are simple arrows so hard to make in After Effects? Thanks to a few expressions, now you can have that arrow without all the clicks. Simply apply the preset (with either a shape layer selected or nothing selected), edit the path as you like, and move on!
Please note: A path is contained within the preset itself out of necessity, so it will ignore or overwrite an existing path when applied (depending on your current selection). If you have an existing path you'd like to apply this to, I recommend applying to a blank shape layer, then copy/paste your path to the "Path" property of the Easy Path Arrow layer.
Everything within the shape layer is editable, so you can stylize your arrow as needed. I kept the controls intentionally simple and streamlined, but please feel free to contact me with any requests or suggestions.