Loud squealing/whats this light?

[maxkuller]

For about a week now my PC has been making an annoying squealing noise, and there's a light right next to the power button that lights up orange whenever the noise is made. What is it? This computers only 2 months old.

 

[socialfox]

You should look for the case manual, there should be something about what the light means. However from the cases I have dealt with the light next to the power light is usually the hard drive light. Perhaps there is an issue with the hard drive? However it could be a fan gone bad or something but since you say the light changes it could be related to the hard drive.