Make a mouse’s click between the layers, pressing simultaneously the
Alt button and the new layer will be applied on the indicator’s limits.


Make a copy now of the first layer (the black indicator created with
Custom Shape Tool (U)). Select after that the
Free Transform option to make the copy smaller the same way it is demonstrated next image.

Apply the next parameters for the layer.
Fill 0%
Blending Options>Stroke
Gradient’s parameters:


Finished!
View full size
here.