I posted this suggestion on the Destiny subreddit and it garnered a good amount of support, so I wanted to share it here too. When you pull out your Ghost it looks like he does a scan of the area, so it would make sense flavor-wise if the scan highlighted things you could pick up. This would potentially be more useful than a tall highlight above items since this would work even if the beacon itself was obstructed. This would also save you the time you'd spend looking for stuff that isn't there since your Ghost's scan would tell you if there is anything you need to go hunt for.