An indicator device is used for locating an underground object, for example an underground pipeline, prior to surrounding excavation by a bucket excavator. The device generally comprises a panel member buried in the ground directly above the object. The panel member includes a distance marker mechanism indicating distance to a bottom end of the panel member to provide an indication to an operator of a bucket excavator. The panel member is formed in vertically stacked sections permitting individual sections to be removed sequentially as digging progresses. Each section is formed of folded tearable material which can be both unfolded to produce an elongate visible banner or torn to provide further indication to the excavator operator with regard to distance to the object to be avoided.