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This mod makes it so when a player is blocking and you can disable it with an axe it shows a shield icon. When they aren't holding a shield (or its disabled in settings) it will show an icon when you can attack a player (or entity in settings).
The Centered Crosshair mod is also supported if you choose to use it.
!Shield Indicator showcase !Shield indicator side showcase !When shield is disabled and looking at player
!Settings page in mod menu
If you want to change the icons you can find them in the mod at the following directories
shieldindicator:textures/gui/sprites/hud/indicator_crosshair
shieldindicator:textures/gui/sprites/hud/shield_crosshair