If you bring up the target details screen (sliding window on the left when at UZO or PSCOPE) you can then go to your torpedo settings. If you always miss on a certain angle you can compensate by making the torpedo head a little to the other way.
Are your targets moving extremely fast?
Try opening your torpedo tube (q key) while lining up the shot. It means the torp will be in the water quicker meaning less chance of a miss. You can only open one tube at a time unfortunately though.
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