The Computer has detected a malfunction - The cheapest way to diagnose what is wrong take it to your nearest Auto zone and have them check the code for you. Most do it for free
what need to do when indicator light is on
ABS, check engine.
you need a new car
I don't know but it also happens on my 2000 Camry.
Umm. . . I would read the manual first ,but from experience the light might not turn off because of the gas cap not on right or tight enough something clogged in the motor or just on from last malfunction but might just be broken and on
Malfunction Indicator Light
A malfunction indicator light is also known as a check engine light. It is a light on the dashboard of a car that goes on when there is a problem with the car's engine.
A malfunction.
You need to refill the container with windshield fluid. If you do so, the light will go off.
A malfunction indicator light comes on because a detector elsewhere in the item has noticed a malfunction in whatever it is monitoring.
I saw this same indicator and contacted my local Toyota Service Dept. He stated that the orange car indicator with dash marks coming off the rear meant a Tail or Brake light(s) were out and needed a new bulb(s). Hope that helps!
Malfunction in the charging system. Could be bad battery, defective alternator, loose belt, corroded cable.