I would say yes, blue down arrows for MCs and DMCs, the only red arrows should be on your wide players, AML, AMR, ML, MR, whichever players you have of these should have red arrows. Again, defensive, down both flanks, own half, hard tackling, long passing, zonal, no counter, no offsides.
My suggestion is actually the below:
---------ST----------
AML--------------AMR
ML----------------MR
----DMC------DMC---
----DC---DC---DC----
You are free to rearrange it, maybe move ML and MR to MC so that you have more players with blue arrows. If any players are on the wings, you must put red arrows on them. I suggest blue arrows for all midfielders except red arrows for wide players, no arrows for goalkeeper, defenders and strikers.