Ok, man. Here it is.
You can remove both by simply pressing F9 ingame, dude. However, if you want something more permanent, just black out the targeting reticle textures in the /assest/textures folder. It's a bitmap so all you have to do is select clear image and just fill it with black.
There is no other way to get rid of the turn indicator aside from F9, I believe that fuzbub is inside the sprites.q3 file.
If you want to know about all the sprites.q3 whoodahhaddah, go to the OP source code section. They could always use some more heads to scratch o'er dere.