As a kid I saw a movie on TV and I don't know its name.
I pretty sure it was during the 1980's.
It might have been a made for TV movie, I am not sure.

3 things stand out that should help you to identify it:
(1) The main character (hero) has a bird follow him, and this
Bird each day drops one feather which turns into a group of arrows
For his bow.
(2) There is a scene where an old guy (perhaps a wizard) transfers
Some of his power to the hero. The way it happens is that a bolt of
Lightning passes from the old guy into the hero.
(3) The evil guy wears armor and rides a horse and when he uses his
Special weapon the TV screen showed a red glare (it might have
Been a blue glare).
It was definitely some kind of sword and sorcery movie..
Any help is appreciated..

I believe you are thinking of the COMPLETELY AWESOME 1981 TV movie The Archer: Fugitive from the Empire (http://www.imdb.com/title/tt0082027/), which was a failed series pilot. This was one of the most spectacular movies ever made--at least in the opinion of an impressionable D&D nerd, such as I was at the time. Eh, who am I kidding? I still am.

Dear Purukivel,

Thank you so much for your help! I had lost hope of ever figuring out what this move was called. You are the best; you made my day. I'll have to hunt this one down and view it!

Take care,
Muffinman...