Sometimes your friend might be really, really far away from you. In this case you want to move around in game until you see their tracked color arrow on the compass at the top of the screen. Once you have found their arrow, open your map. Scroll out as far as possible then drag the map in the direction your arrow is pointing. You will eventually find your friend.
If you do not see your colored arrow for a tracked friend you may want to go back to the player screen (i) and make sure you have the box clicked "track" next to their name. Believe us when we say this happens a lot and it still happens to us as well.
