When you click on add filter your will see this form

Decide what you want to filter out of your Analytics report and add the name to your filter.
Today we are filtering out our own visits to the website because we want an accurate account of our website traffic.

In the Filter Type you will choose predefined.
In the drop down box for select filter type choose exclude.
Under Select Source or Destination selecttraffic from the IP addresses
In the Select Expression drop down select the appropriate expression. As you are excluding your own IP address then choose That Are Equal To