So uhm...does the Tracker module have some kind of sound that alerts you when an enemy is nearby or in your field of vision regardless of cloak?

Ok so, I am using Air Stomp, Tracker and Retriever on one of my setups. I keep hearing this sound when playing, like squeaking.

I guess you're talking about Cloak Tracker - yes, sound informs you when someone enters/exits cloak (sadly, it applies to your teammates as well). It also periodically informs you (by sound) when someone cloaked is nearby.

Yes it does have a sound, not as good/accurate as the proximity has, but gives you quite a good feedback on some of the enemy's whereabouts.

No, I mean Tracker..as in where you see footsteps. I am telling you, it is making a squeaky sound.