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Discover LudwigThe phrase "leading indicator" is correct and usable in written English.
This phrase is typically used to refer to a situation or factor that is predictive of a larger trend or upcoming event. For example, "The rise in home sales is a leading indicator of a strong economy in the coming year."
Dictionary
leading indicator
noun
An phenomenon that generally occurs in advance of an important phenomenon, aiding in its prediction.
Exact(60)
In the last few years, holiday retail sales have misfired as a leading indicator.
Consider the leading indicator.
Games are no doubt a leading indicator, but media is definitely something we're very focused on.
Mike: A leading indicator of success at Autopilot is our NPS (Net Promoter Score).
Techstars looks for team dynamic as the leading indicator of success.
A street-corner leading indicator.
"It's not the leading indicator of success.
"They are my leading indicator," Mr. Kohler said.
"Commodity prices tend to be a leading indicator," he said.
Housing starts are a leading indicator of economic activity.
Imports of manufacturing inputs, a crucial leading indicator, have collapsed.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com