I am not sure what railroad your modeling but I can tell you about the signals on the BNSF where I work, On the BNSF, depending on where your authority is on your sub will determine different signals. CTC authority will authorize trains through signal indication. So if your in a siding and the dispatcher gives you a green, then you have authority to leave the siding and enter the main. There are a lot of signals on CTC and its the most complex system with signals, example, Clear, aspect green, indication proceed at maximum authorized speed. the next signal is approach medium (aspect a flashing yellow or double yellow,indication proceed prepared to pass next signal not exceeding 40 mph and prepare to enter diverging route not exceeding prescribed speed of turnout). then the next signal the train passes ( not over 40 of course) is diverging approach (aspect red over yellow, indication proceed prepared to enter diverging route not exceeding the prescribed speed of the turnout, and prepare to stop at next signal, trains exceeding 30 mph immediately reduce to that speed,) so if a train gets that signal it means the dispatcher is most likely sending you into a siding. If your track authority is say twc (track warrant control) ABS then the signals are a little different. TWC is where the dispatcher must issue a track warrant and ABS(automatic block system) is where signal aspects are controlled by train movement, so if a train is occupying a block the signal behind the train is red, when the train passes the next signal, the signal that was once red becomes an approach. Example, If your train is on the main line and the signal is green you still do not have authority to pass the signal because the green light does not authorize your train to proceed, in ABS a green means that the track is clear, the only way a train can proceed is to have authority from the dispatcher through a track warrant. so a train has authority and has been hitting greens until it comes up to an approach medium,(aspect flashing yellow, indication proceed prepared to pass next signal not exceeding 40mph) the next signal is an approach(aspect yellow, indication proceed prepared to stop at the next signal, trains exceeding 30 immediately reduce to that speed,) next signal is a stop, in ABS if a signal is red its because either a train is in the next block, or broken rail or a siding switch is thrown in the reverse position. An absolute signal is one with out a number plate so a train must absolutely stop, but if a signal has a number plate then its an intermediate signal. If a signal has a number plate and its red then the aspect is a stop and proceed, indication is stop and proceed at restricted speed. train must proceed at restricted speed until leading wheels pass the the next signal. What is restricted speed? GCOR rule 6.27 "When a train is required to move at restricted speed, train must be able to stop within half the range of vision short of:
Trains
Engines
Railcars
Men and machinery
Switch line improperly
Derails
When a train is required to move at Restricted speed, train must watch for broken rail and not exceed 20 mph.
if the train is at an absolute red, the only way to move past the red block is to have the dispatcher talk you by the signal: "After stopping BNSF 4240 has permission to pass signal displaying stop indication main to main westward direction" after being talked by a red block, train must move at restricted speed until leading wheels pass the next block, So when the engine comes to the next signal and its green, once the head wheels on the engine pass it, train may then proceed at maximum authorized speed.
I know it sounds confusing but this is the best way I can give a crash course of what signals mean. If your reading the old rule books, read the sections regarding authority and it might shed more light on the signal aspects.