A signal-transmitting arrow operable to transmit an encoded RF signal, an arrow locating and game tracking receiver system for use with the signal-transmitting arrow, and a transmitter-nock unit for installation on an arrow to construct a signal-transmitting arrow. The arrow includes an arrow shaft, an arrow head disposed at an arrow shaft forward end, and a nock disposed at an arrow shaft rearward end. A transmitter unit includes a transmitter housing that is removably mounted in interior chamber at the rearward end of the arrow shaft, and is rigidly connected to the nock to provide the transmitter-nock unit. The transmitter unit has an RF transmitter with a rigid antenna that extends rearwardly into the nock. The receiver system includes omnidirectional and directional antennas and RF receivers, a processor for generating direction indicating signal, and a user interface that indicates arrow location.