"it not only indicates" is correct and usable in written English.
This phrase is often used to refer to an action that has multiple effects, not just the one indicated. For example, "This new policy will not only indicate a commitment to sustainability, but also result in positive changes for the environment."
The multimetric index has been adapted in such a way that it not only indicates overall condition but also specific causes of environmental disturbance.
It not only indicates the horizontal locations of boundaries according to the 0° contour line, but also estimates the top depths of buried sources calculated from the horizontal distances from 45° and 90° contour line to 0° contour line.
It not only indicates that -- on the show --Morgan malready already had a run-in with this group, but it also means the show introduced something from the comics way before readers ever found out.
Microsatellite instability due to MMR deficiency is one of the main biomarkers in colorectal cancer, as it not only indicates the pathogenesis, but also provides information on prognosis and prediction of response to chemotherapy.
An instrument for assessing emotional problems is regarded more useful if it not only indicates individual or group differences in symptom level or severity, but also is sensitive to changes in symptom levels (e.g. due to targeted interventions).
The female breast compared with other organs of a woman's body is multifunctional in the sense that it not only indicates health but also embodies femininity and is an important physical asset.
The fact that they are now emerging from Greece not only indicates the scale of financial distress, it suggests something else: Greece today looks like parts of Latin America in the worst moments of its financial crisis.
This not only indicates continued dominance by large firms, but it is also not clear how the growing numbers of small firms survive.
This low reading not only indicates that call open interest easily outnumbers put open interest, but it is also lower than three-quarters of the readings taken during the past year.
This not only indicates the most prominent personality characteristics of such individual but also it will be used as a criterion for determining the individual's compatibility with an occupation or a filed of study.
The comparison of classification results over several years not only indicates the method's consistency, but also its potential to detect land cover changes.
