Compass feature which shows the direction is available only on Apple Watch Series 5 or later.

Yes, if you've already have been authorized on your Watch, you may use Stops app even if you don't have your [...]

Open Stops App on your Watch and tap the button "Share My Location" on its main screen. On the next screen choose [...]

When you first time open Stops App on your Apple Watch, it may ask you to login even if you already have [...]

If you have already downloaded Stops for Apple Watch from the App Store, it is automatically installed on your Apple Watch. [...]

You can download Stops for Apple Watch from the App Store.