Here is an alternate fingering of the same arpeggio, but this one involves a position change part way though. Though the position change may seem like a silly idea at first, considering that the whole thing can be played as shown above, this is generally a more practical fingering. Start with your second finger for the root on the 6th string, and first finger for the 3rd on the second string, then shift position to play the 5th at the fifth fret of the fifth string with your third (ring) finger, and procedd in the same position for the rest. A pinky stretch will be required to play the 7th at the seventh fret on the second string:
This video demonstrates the position shift mentioned above (demonstrated in fifth position on the video, but the fingering works the same way no matter what position you are in):
The accompanying Gmaj7 chord, root on 6th string (X = muted string):
Here is a tab of the C Major 7 arpeggio. Be mindful of the fact that that the root here is at the thrid fret of the fifth string; lower register notes on 5th and 6th strings are also shown as well. There is also a position change involved in playing this arpeggio pattern; you will naturally play the 3rd at the second fret of the fourth string with your first (index) finger, and then shift position to play the 5th at the fifth fret of the fourth string with your third (ring) finger. Resume in the same position to play the rest of the pattern. Of course a pinky stretch and slide will be required to ascend to the 7th and root on the first string:
As with any other fingerboard patterns, you can shift these into other root positions to change keys.
The illustrations above show fingerings that fall into the positions that overlap commonly used chord voicings. However, any arpeggio can be played anywhere on the guitar neck (though fingering may get tricky in some spots) by using the appropriate chord tones, such as Root, 3rd, 5th, and 7th for the major 7 arpeggio.
