Recognizing interchangeable torch components, such as consumables, for welding and cutting torches includes determining that one or more interchangeable torch components installed in an operative end of a torch are genuine. Operational parameters for the one or more interchangeable torch components can also be determined. When the one or more interchangeable torch components are determined to be genuine, an indicator assembly can be activated to provide a first indication. When the operational parameters are implemented at a power supply connected to the torch, the indicator assembly can be activated to provide a second indication.