For viewing enemy planes, first use the 'Next Enemy' hotkey, then you can toggle the 'Padlock View' key on/off, as needed, to lock your view on that aircraft.
When Padlock is on, you can continue to use the Next Enemy key and it will switch your padlocked view to each new one as you do so.
If you want more screen indicators, there are a couple extra on/off hotkey options such as direction cones, brackets, and text info. I just tend to fly with my Tac display up and use padlocking so that there isn't anything overlaid on the actual enemy aircraft.