Depends on who is doing the fishing. A normal person would probably use a tip up. People like me would probably spend a month figuring out how to rig up something that plays music, flashes a light and sends up a signal flare.
A tip up?. Ain't that when you lift a metal ring and hear it go psssst, then tip it up to drink the contents? Shoot I knew that one from all the root beer I drink.