Advice on Navigation Locator System

Hi, I'd like to add a navigation locator to my character in my game, much like the blue light streak used in Dead Space 3, where Isaac has a compass type of device on his left wrist that shows him where to go.

If there are other types of navigation systems that work as well or better, please advise. I'm at a stage where I can opt for one type of system or another.

Thanks for your help,
Calixto