Building roadsigns is the same as building railsigns. However road vehicles don't reserve blocks, they drive until an obstacle (a red light or another vehicle stoped on the path), it waits until the obstacle disappears. A road vehicle never stops on a crossing, to drive ahead the tile after the crossing must be free so the road vehicle won't stop on the crossing. If vehicles are stucked for too long, there's a traffic jam you have to remove absolutly.
Citycars take care of your signals.
Beside you can remove an annoying citycar with the remove tool keyboard shortcut “r”.
Its purpose is simple : vehicles can't drive through this roadsign in the wrong direction. One way roads can be built with this.
The roadsign prevent vehicles whose max speed is slower than the speed written on the sign from driving. By this way you can prevent too slow vehicles from driving on crowded roads.
Highways need some things to work but have advantages. You can use highway's entry/exit sign, these roadsigns are just a combination of a one way sign and a min speed 80 km/h sign, that's why vehicles which can't drive over 80 km/h can't enter a highway (if it's a problem, just use one way signs).
There is a combinated roadsings addon in which you can find every signal you want, found on http://addons.simutrans.com/: download
Fast roads are usually used to build highways, at least faster than 50 km/h, but when towns grow larger, they replace any road by 50 km/h cityroads. To avoid this problem, use fences to protect highways by building them on each side of the highway (which must have two roads …).
You can find two fences'addon, the first one just have a sigle fence, found on http://addons.simutrans.com/: download
The second one is a SNFOS addon, here is its page.
Vehicles can overtake on a road if there is no facing vehicle, highways are a good place for overtaking so the traffic can be more effective.
Works exactly the same way as trains'one, the vehicle stops at a free stop of the same station if its stop is busy.
Warning : these roadsigns are NOT decorations ! if you place them anywhere, you'll get traffic jams.
This one is usefull if you want to drastically modify a road, place roadblocks so no vehicle can enter, so you can freely modify the road (don't enclose vehicle inside the roadblocks).