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Abstract Most brown dwarfs show some level of photometric or spectral variability. However, finding the most variable dwarfs more suited for a thorough variability monitoring campaign remained a challenge until a few years ago with the design of spectral indices to find the most likely L and T dwarfs using their near-infrared (NIR) single-epoch spectrum. In this work, we designed and tested NIR spectral indices to preselect the most likely variable L4–L8 dwarfs, complementing the indices presented by Ashraf et al. and Oliveros-Gomez et al. We used time-resolved NIR Hubble Space Telescope Wide Field Camera 3 spectra of an L6.0 dwarf, LP 261–75b, to design our novel spectral indices. We tested these spectral indices on 75 L4.0–L8.0 NIR SpeX/IRTF spectra, providing 27 new variable candidates. Our indices have a recovery rate of ∼80% and a false negative rate of ∼25%. All the known nonvariable brown dwarfs were found to be nonvariable by our indices. We estimated the variability fraction of our sample to be ${51}_{-38}^{+4}$%, which agrees with the variability fractions provided by Buenzli et al., Radigan et al., and Metchev et al. for L4–L8 dwarfs. These spectral indices may support the future selection of the most likely variable directly imaged exoplanets for studies with the James Webb Space Telescope and as well as the 30 m telescopes.