Hologram recording and holographic interferometry are intrinsically sensitive to phase changes, and therefore both are easily perturbed by minuscule optical path perturbations. It is therefore very convenient to bank on holographic setups with a reduced number of optical components. Here we present a compact off-axis holographic setup that requires neither a collimator nor a beam-splitter, and whose layout is reminiscent of an "arrowhead". We show that this inexpensive setup is a good alternative for the study and applications of scientific holography by measuring small displacements and deformations of a body. The arrowhead setup will be found particularly useful for holography and holographic interferometry experiments and projects in teaching laboratories. (Contains 5 footnotes and 6 figures.)