The name Indicators and Studies are interchangeable and mean the same thing. Some studies (like Cumulative Delta) require order flow data click here for more on how that works.
To add a study to a chart, click the icon and you will see the following:
Double click a Study name in the top left panel and it will add it to the chart. We advise using the pre-defined colors which are made to be visible in both Dark and Light modes. Each study has it's own settings and we recommend the defaults. Panel index allows you to say which panel the study appears on and again, we recommend the defaults settings for all studies.