If an Indicator (PCF) Formula is created in the Edit PCF window and given a name and the Indicator is added to a watchlist as a column, the column takes the given filename as the heading.

If this Indicator is plotted on a chart, it takes the Formula as the indicator name on the chart although this is not the name of the indicator file.

This is not consistent.

If the indicator is edited from the plot and given a Label, this Label only remains for the current plot and is not with the Indicator if it is called up again. 

However, if you add the indicator to a watchlist as a column, the column takes the Label (and not the Indicator name as before) as the column heading.

If the Indicator is added directly to the watchlist as a column, the column takes the Indicator rile name and not the label name.

This can be confusing.

If you save the indicator from the plot, the indicator file name is whatever is used as the indicator name on the plot, whether it is the Formula or the given Label.

If the initial default label was filled with the file name when the indicator was generated then the plot label, the chart column label, and the file name would all be the same without confusion.  If you wish to have the file name different from the column heading/plot name, the you can change either or both of those when the indicator is saved.

Maybe I am missing something here.  Why is the name initially given to the indicator not used as the default label when the indicator is initially plotted but is used as the column heading when the indicator data is used in a watchlist chart?

I will forward your suggestion for more consistency to management.

As to why, I can really only guess. Custom PCF Indicators are a very old feature going back to TC2000 v7. Labels and the ability to just select a formula and have it plot as a Custom PCF Indicator are fairly recent additions.

I suspect when these additions were made, it just didn't occur to anybody to automatically use the name of the PCF as the label of the Custom PCF Indicator.

Labels aren't part of formulas, only indicators, so adding a label to the indicator isn't going to add to the formula. But if you were to save the Custom PCF Indicator as an indicator, the label would still be there if you added the saved indicator later.