Knowing the arc of the basic aircraft lights helps in assessing collision risk.
Below gives the position of the lights and area's covered by them.
If at night you were to see a red light ahead and on the left, then that aircraft may not cause a problem to you. Red to red is OK as is green to green.
Red to green is a risk of collision as the other aircraft is heading straight at you.
Should you ever find yourself in that unlucky position then follow Av/Law and turn to starboard (right) as this is what the other pilot will be doing.
Thanks to Paul for this item