Are you using Premiere Elements 12 or Photoshop Elements 12? And, on what computer operating system is the program running?
If you are talking about Premiere Elements 12/12.1, there is a line tool in the Shape section of the program's Titler. No arrows however unless
you try to draw them in with additional maneuvers of the line tool there.
If you are referring to the line tool in Photoshop Elements 12. The line tool is in with a group of tools.
In the screenshot, look to where I have the red arrow pointing in the toolbox. If it is not displaying there as the line tool, then click on it, which brings up the Options Bar for that tools group. Then select line tool in that Options Bar. The line tool options will be displayed in the Option Bar.
In the above screenshot, the custom shape tool was showing originally in the toolbox, with its options in the Options Bar. And, I next clicked on the line tool in the Options
Bar to use change the choice to use it and its options..
Photoshop Elements questions should be posted in the Adobe Photoshop Elements Forum.
Please let us know if the above worked for you.
I am using Photoshop Elements 12 and I have found this with your help. Thanks.