Switch off the breaker for the dryer circuit. Test the circuit at the outlet end with the test light to make sure it is off.
If the circuit has an existing three-prong outlet, use the screwdriver to remove it. Cut 1/2 inch from each wire conductor where it was previously connected, then strip 1/2 inch of insulation from each wire.
Loosen the terminal screws on the back of the four-prong outlet. The terminals should be marked with X, Y, W and G respectively. Orient the outlet so the "W" terminal is at the bottom; this is the L-shaped prong. Insert the white wire into the terminal and tighten the screw.
Insert the black wire into the left-side (as you face the back of the connector with the white wire on the bottom) terminal, marked "X." Tighten the screw.
Insert the red wire into the right-side terminal, marked "Y." Tighten the screw.
Insert the green or bare wire into the top (round) terminal, marked "G." Tighten the screw.
Push the connector into the junction box. Install the mounting plate screws.