The invention provides a movable road flag which comprises two supporting barrels, a connecting piece connected between the two supporting barrels, flag rods inserted into the supporting barrels, flags arranged on the flag rods, and fixing pieces for fixing the supporting barrels. Each supporting barrel comprises a vertical section and an inclined section which is inclined and extended from the top end of the vertical section to be away from the other supporting barrel. The connecting piece comprises two positioning pieces and a screw, wherein the screw is connected between the two positioning pieces and can position the included angle between the two positioning pieces. Each positioning piece comprises a sleeve body where the corresponding supporting barrel penetrates, and an extending portion extending from one side of the sleeve body to the other sleeve body. The screw penetrates through the extending portions of the two positioning pieces and is fixed with a nut. The number of the fixing pieces is two. Each fixing piece is in a strip-shaped rod, one end of each fixing piece is fixed to the extending portion of the corresponding positioning piece through a screw, and the other end of each fixing piece forms a bent hook. The movable road flag is hooked to a building with a transverse rod at any time through the bent hooks of the fixing pieces so as to be moved, and is convenient to implement.