Team Logo. The Waterloo Indians were a team in the Midwest League. They were the Low-A affiliate of the Cleveland Indians. In 1989 they changed their name to the Waterloo Diamonds. Retrieved from "https://prosportsteams.fandom.com/wiki/Waterloo_Indians?oldid=10098" Categories: Former MWL Teams Teams in Iowa Add category Cancel Save Community content is available under CC-BY-SA unless otherwise noted.