The alert light above the volume knob is part of the " BearTracker Warning System"
The BearTracker Warning System is a special part of the BearTracker System. When you press [HP/B], the scanner is set to alert you to transmissions of close by services. The BT display icon begins to blink. The BearTracker LED lights, and you hear a menu selected Alert Tone. Most highway patrol vehicles on the road today are equipped with a secondary radio system known as ‘mobile extender’ or ‘vehicular repeater.’ Whenever the dispatcher transmits to any vehicle in the district, ‘mobile extender’ in every car within the district is activated. Every 2 seconds, the scanner checks for activity on BearTracker Warning System frequencies for your state (see “Setting the BearTracker Options” on Page 67 for information affecting all BearTracker Warning system options) to set how many frequencies the scanner checks during each cycle). The BearTracker Warning System frequencies includes frequencies used by ‘mobile extender’ radios as well as by car-to-car, aircraft-to-car, and other special-purpose frequencies. You receive an audible (beep tone) and visual (flashing Alert light) alert whenever you are within an approximate three-mile radius of Highway Patrol/State Police units using a mobile extender unit.