The indicator light on my smeg over does not go off, it is constantly on, therefore I do not know if the oven has reached its correct temperature.

Would this be the element that needs to be replaced?

Sioned, November 2009

the element supplies the desired HEAT required.
the control of the heat range should be the THERMOSTAT.
from cold select a low temp on thermostat allow a short time to warm up (10 min max) ,open the door carefully if the (heat hits you) there's a good chance to assume the thermostats GONE .

wirecutterman, November 2009