How do I use the metal detector?

[system2]

How do I use the metal detector? I equiped it, and it makes some noise but im not sure how to use it or what it does.

[StarFall]

Basically if you look in the directon of loot and you are within range it will beep (sometimes this bugs and it makes no noise) and the meter will move to the right.

[Kalan]

^ tried it, works exactly how he sais it does
If you're playing on ranger hardcore like I am right now, A hint that theres loot around to compensate for the lack of HUD is very useful