Captain Miracle

Why does he have an arrow pointing up?

I've have mentioned how using stand-ins for other characters can be a good thing. However, it can also be used badly. This is because there is difference between homage and rip-off. Captain Miracle falls into the latter.
Biography
Johnny Dee was an editorial assistant working at the Daily Clarion. He gained his powers from a "magic formula" of Eastern origin. He became a superhero for unknown reasons. Eventually, Captain Miracle teamed up with Tod Allen / Miracle Kid (who had similar powers). Captain Miracle later turned up in Zenith Phase Three and was under the control of Lliogor.
Powers
Johnny Dee could transform into the superhero Captain Miracle. He did so when he says "El Karim" (similar to Marvelman's "Kimota"). Captain Miracle has super strength, invulnerability and flight.

Relation to Marvelman

Captain Miracle was created by Marvelman creator Mike Anglo. Captain Miracle's adventures were actually slightly altered and re-lettered Marvelman comics. As such, Captain Miracle is based on Marvelman and Miracle Jnr. is based on Young Marvelman.

References:
http://www.internationalhero.co.uk/c/capmir.htm
http://www.internationalhero.co.uk/m/mirckid.htm