Perhaps, but it might mean the opposite. Someone who is indifferent won't really notice you but will interact with you if necessary. Ignoring is a much more deliberate act, which requires that person to be focusing on you when you're around. It could mean she is angry with you. If someone has done something deliberately mean to me, I might purposefully ignore them, both to protect myself from further trouble and to let that person know that their behavior was unacceptable. It is a bit immature, but sometimes ignoring is easier and more effective than confronting a bully or someone who has wronged you.
Another reason she might ignore you is that she might think you like her, and be trying to discourage you. We can be super aware of unwanted attention.
On a more positive note, some people find it really hard to deal with their emotions towards another person. Shyness and insecurity get in the way. Sometimes people are so scared of rejection or of looking foolish that they find it easier to ignore people they really like.
I know it's confusing, so the very best way to find out what's happening is to talk to the girl. Ask her if you have done something wrong. Even if she doesn't answer directly you should be able to tell from her response whether she seems angry or whether she seems flustered, and then act accordingly. If she's angry, try to sort things out with her. If she's flustered, she probably likes you, so be kind and if you like her, ask her out and see what she says.