The responsiveness of four types of stem diameter shrinkage indicators to sap flow changes was compared under four air temperature and cloudiness conditions: above 0 °C below 80% cloud cover days; above 0 °C large percentage cloud cover days; low temperature below 80% cloud cover days; and low temperature large percentage cloud cover days. In this study, we investigated the effects of indicative functions of relatively easy-to-access stem diameter shrinkage on variation characteristics of sap flow. High-resolution-based stem diameter shrinkage is related to changes in tree moisture content. Stem diameter shrinkage indicators are adopted to confirm sap flow changes resulting from transpiration pull, which may enhance the power of stem diameter shrinkage as an index for tree bole moisture loss. After measuring stem diameter variations, the following stem diameter shrinkage indicators were calculated: maximum daily shrinkage, daily stem diameter increment, daily stem diameter variation, and tree water deficit-induced stem shrinkage (TWD). Sap flow was measured synchronously, and stem diameter shrinkage indicators were analyzed to confirm their responses to sap flow. TWD was positively correlated (r ≥ 0.317) with daily variations in sap flow and reached extremely significant levels (p ≤ 0.001) under all conditions. TWD and maximum daily shrinkage were able to better reflect the correlation between changes in stem diameter and sap flow on a daily scale, except large percentage cloud cover days with low temperatures. Changes in stem diameter had no correlation with sap flow during low temperature and large percentage cloud cover days. Among all stem diameter shrinkage indicators, TWD showed the highest correlation (r ≥ 0.601 and p ≤ 0.001) with sap flow under all conditions, except during large percentage cloud cover days with low temperatures. The stem diameter shrinkage indicators did not reflect sap flow changes during large percentage cloud cover days with low temperatures. The indicator that best reflected moisture loss of trees was TWD.