Answer: Color change and the formation of a solid are the indicators of rusting.
Step-by-step explanation: Rust is a red colored compound known as iron oxide (
) which is formed when iron comes in contact with oxygen. Equation for rusting follows:

Iron metal is grey in color and the oxide formed is red in color.
As seen from the above equation, a solid compound is formed, so we can say that the indicators of rusting are : Color change and formation of a solid.