der Pfeil
arrow
A symbol in the shape of an arrow that is used to indicate a direction or a reference.
Folgen Sie einfach den Pfeilen auf dem Boden, um zum Ausgang zu gelangen.
Simply follow the arrows on the floor to get to the exit.

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arrow
A symbol in the shape of an arrow that is used to indicate a direction or a reference.
Folgen Sie einfach den Pfeilen auf dem Boden, um zum Ausgang zu gelangen.
Simply follow the arrows on the floor to get to the exit.

You can tell from the context whether a symbol or a projectile is meant. Words like 'zeigen' (to point/show), 'folgen' (to follow), or 'Schild' (sign) indicate the symbol. Words like 'Bogen' (bow), 'schießen' (to shoot), or 'treffen' (to hit) indicate the projectile.
Der Pfeil auf dem Wegweiser war kaum noch zu erkennen.
The arrow on the signpost was barely recognizable anymore.
As a direction symbol, 'Pfeil' (arrow) is often used with verbs like 'folgen' (to follow) or 'zeigen' (to point/show). For example, you say 'den Pfeilen folgen' (to follow the arrows) or 'der Pfeil zeigt nach oben' (the arrow points upward).
Ein großer roter Pfeil auf der Straße zeigte die Umleitung an.
A large red arrow on the road indicated the detour.
In the meaning of the projectile, 'Pfeil' (arrow) is very often used together with 'Bogen' (bow) in the fixed expression 'Pfeil und Bogen' (bow and arrow).
Bei dem Fest konnte man das Schießen mit Pfeil und Bogen ausprobieren.
At the festival, you could try shooting with a bow and arrow.
The figurative meaning is used almost exclusively in the fixed comparison 'schnell wie ein Pfeil' (fast as an arrow) to express very high speed.
Das Auto schoss schnell wie ein Pfeil an uns vorbei.
The car shot past us fast as an arrow.
sign / symbol
'das Zeichen' and 'der Pfeil' can both be symbols that have a meaning. 'Zeichen' is the general term for many kinds of symbols or markings. 'Pfeil' is a specific type of 'Zeichen': it usually indicates a direction or a reference. The words can be confused when talking about symbols on signs, maps, or in texts. If the shape or direction is important, you say 'Pfeil'. If you are talking about a symbol in general, 'Zeichen' fits better.

Folge dem Pfeil auf dem Schild, dann findest du den Ausgang.
Follow the arrow on the sign, and you will find the exit.
Herr Schmidt erklärte im Kurs, welches Zeichen für Gefahr steht.
In the course, Mr. Schmidt explained which symbol stands for danger.