Large variation in electrocardiogram (ECG) waveforms continues to present challenges in defining R-wave locations in ECG signals. This research presents a procedure to extract the R-wave locations by forward-backward (FB) algorithm and classify the arrhythmic beat conditions by using RR intervals. The FB algorithm shows forward and backward searching rules from QRS onset and eliminates lower-amplitude signals near the baseline using a statistical process control concept. The proposed algorithm was trained the optimal parameters by using MIT-BIH arrhythmia database (MITDB), and it was verified by actual Holter ECG signals from a local hospital. The signals are classified into normal (N) and three arrhythmia beat types including premature ventricular contraction (PVC), ventricular flutter/fibrillation (VF), and second-degree heart block (BII) beat. This work produces 98.54% accuracy in the detection of R-wave location; 98.68% for N beats; 91.17% for PVC beats; and 87.2% for VF beats in the collected Holter ECG signals, and the results are better than what are reported in literature.