Yes, indicator is a Scrabble word!

...and is worth 12 points in Scrabble, and 14 points in Words with Friends

indicator

Noun

1. A number or ratio (a value on a scale of measurement) derived from a series of observed facts; can reveal relative changes as a function of time

2. A signal for attracting attention

3. A device for showing the operating condition of some system

4. (chemistry) a substance that changes color to indicate the presence of some ion or substance; can be used to indicate the completion of a chemical reaction or (in medicine) to test for a particular reaction

What Scrabble words can I make with the letters in indicator?

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Words that can be created with an extra letter added to indicator:

Y:dictionaryindicatoryS:indicatorsM:antidromicO:carotinoidV:vindicator