Please read the full pages here to explain the Third Eye. The simple answer is the third eye shows us potential. However, potential is complicated and so as a result many answers exist on how people describe the third eye.
Since many different practices exist to expand the third eye, it depends largely on one’s training how a person defines the third eye. For example: I am considered as a seer or a sage in my training. To learn more about using the third eye as a seer please read about working with your: intuition.