A drought, which can be often accompanied by increased temperature, is a key adverse factor for agricultural plants. Remote sensing of early plant changes under water shortage is a prospective way to improve plant cultivation; in particular, the sensing can be based on measurement of difference reflectance indices (RIs). We complexly analyzed the efficiency of RIs based on 400–700 nm wavelengths for revealing the influences of water shortage and short-term heating on plant seedlings. We measured spectra of reflected light in leaves of pea, wheat, and pumpkin under control and stress conditions. All possible RIs in the 400–700 nm range were calculated, significances of differences between experimental and control indices were estimated, and heatmaps of the significances were constructed. It was shown that the water shortage (pea seedlings) changed absolute values of large quantity of calculated RIs. Absolute values of some RIs were significantly changed for 1–5 or 2–5 days of the water shortage; they were strongly correlated to the potential quantum yield of photosystem II and relative water content in leaves. In contrast, the short-term heating (pea, wheat, and pumpkin seedlings) mainly influenced light-induced changes in RIs. Our results show new RIs, which are potentially sensitive to the action of stressors.