Using the Compass Panel

The compass panel allows you to navigate to a precise point on a planet:

You can set the location either via typing in the latitude/longitude directly next to the target, or using a planetary bookmark.

The compass is normally over-layed on the Elite Dangerous screen while ED is in borderless or windowed mode. Your would select the hide in transparent selection so that the target text is hidden, select "Tf" in the transparency selector Using Panels, and always on top (filled box next to the ?). The compass now looks like this:

The update speed is governed by the rate Elite writes position data to the journal.

When a target is near, and the glide slope is negative (your facing it), the compass will print next to the up arrow distance to go and glide slope information. Left and right arrows will appear if your too far right or left in heading.