point of reference vs indicator

point of reference and indicator both are nouns.

Word	Noun	Adjective	Verb	Adverb
point of reference	Yes	No	No	No
indicator	Yes	No	No	No

As nouns, indicator is a hypernym of point of reference; that is, indicator is a word with a broader meaning than point of reference:

point of reference (noun)	indicator (noun)
an indicator that orients you generally	a device for showing the operating condition of some system
	a number or ratio (a value on a scale of measurement) derived from a series of observed facts; can reveal relative changes as a function of time
	a signal for attracting attention
	(chemistry) a substance that changes color to indicate the presence of some ion or substance; can be used to indicate the completion of a chemical reaction or (in medicine) to test for a particular reaction