Water is vital for producing summer maize (SM) and winter wheat (WW); therefore, its proper management is crucial for sustainable farming. This study aimed to develop new tri-band spectral vegetation indices that enhance the accuracy of monitoring plant moisture content (
PMC) in SM and WW. We conducted irrigation treatments, including W0, W1, W2, W3, and W4, in SM–WW rotations to address this issue. Canopy reflectance was measured with a field spectroradiometer. Tri-band hyperspectral vegetation indices were constructed: Normalised Water Stress Index (
NWSI), Normalised Difference Index (
NDI), and Exponential Water Stress Index (
EWSI), for assessing the
PMC of SM and WW. Results indicate that
NWSI outperformed other indices. In the maize trials, the correlation reached R = −0.8369, while in wheat, it reached R = −0.9313, surpassing traditional indices. Four mainstream machine learning models (Random Forest, Partial Least Squares Regression, Support Vector Machine, and Artificial Neural Network) were employed for modelling.
NWSI-PLSR exhibited the best index-type performance with an R
2 of 0.7878. When the new indices were combined with traditional indices as input data, the
NWSI-Published indices-SVM model achieved superior performance with an R
2 of 0.8203, outperforming other models. The RF model produced the most consistent performance and achieved the highest average R
2 across all input types. The
NDI-Published indices models also outperformed those of the published indices alone. This indicates that these new indices improve the accuracy of moisture content monitoring in SM and WW fields. It provides a technical basis and support for precision irrigation, holding significant potential for application.
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