Effective study and management of crops and forests would benefit greatly from useful plant-based indicators of the biological controls on evapotranspiration, and particularly stomatal conductance (gs). Given the strong influence of gs on bulk leaf water potential and turgor pressure (P), in vivo measurement of P may provide useful information about diurnal or seasonal dynamics of gs. Moderate plant water stress affects the diurnal dynamics of P as leaf-to-air vapour pressure deficit (D) varies, and these dynamics correlate to gs. Here, we explored relative changes in P in response to changes in D under mild drought conditions, and how these changes are linked to stomatal behaviour, and specifically to diurnal maximum gs (gs,max), one of the best indicators of plant water stress. We monitored ecophysiological and environmental variables, as well as a relative proxy for P, during three consecutive seasons in a hedgerow olive orchard where trees were supplied with different irrigation treatments to create well-watered and moderately water-stressed conditions. Our results demonstrated that the sensitivity of P to D correlated well with gs,max reached by the trees within a range in which variations in gs are the main diffusional limitation to photosynthesis. We further showed that this correlation held under a wide range of meteorological conditions and soil water availability. This turgor proxy measurement, which is much easier to measure than gs, can facilitate the use of gs,max as an indicator of plant water stress and evapotranspiration in agriculture and plant science research.