Hide text on system load indicator
After plenty of digging around on the web, this is what I found. You need to go to the indicator preferences:
Preferences->Indicator Items->Add
Then you create a blank entry by pressing the space bar and save it.
This is a temporary work around though, but it will solve your problem. Worked for me on Ubuntu 14.04 and using v0.4 of the indicator. See comment #6 in the link below:
https://bugs.launchpad.net/indicator-multiload/+bug/1348961
Just remove all items from indicator.
Go to: Preferences->Indicator-items and remove all entries.
Works on 15.05.
First of all, this is not a bug that the text is displayed next to the graph, but a feature. All you have to do is to point the mouse to the graph and scroll, so that you can toggle what text is to be displayed (about CPU, Memory etc.) there, or no text at all. Hope that helped. :)
For detailed info, see here