It sweeps around your ship with a laser beam, showing you immediate vicinity. You are at the center.
Blue things are moving towards you. Red things are moving away from you. Blinking things are shiny and probably valuable (or dangerous).
Then what is the purpose of the blue beam that appears whenn you you hit (F)?
F is for keyboard targeting of autopilot. When you press it and rotate your ship, it will highlight viable targets, and when you release it will lock on to recent highlighted.
You can do the same thing by clicking the mouse on a target.
