I am wondering I have a orange red dot by my battery percentage what does it stand for?
the orange dot means that the microphone is in use. So you should expect to see it when talking on the phone, recording voice memos, talking to Siri etc.
It's purpose is to make sure you are aware when your microphone is being used. Same for the cameras, you will see a green dot.
About the orange and green indicators in your iPhone status bar - Apple Support