A fault indicator for indicating the occurrence of a fault in an electrical conductor has a housing, a high capacity battery, a permanent fault display for indicating the occurrence of a permanent fault, a temporary fault display for indicating the occurrence of a temporary fault, a current sensor for sensing the load current in a monitored conductor, a microcontroller for determining when a fault condition occurs and for activating the permanent or temporary fault displays. Preferably, each display includes one or more LEDs. Upon detecting a fault, the microcontroller begins flashing the permanent fault LEDs. After a predetermined interval, the microcontroller again senses the load current. If the current is zero, the fault is permanent and the permanent LEDs continue to flash until a timed reset occurs. If the load current is present, the fault is temporary and the temporary LED is flashed until the timed reset. A light sensor is used to detect nighttime conditions, and microcontroller supplies reduced power to the LEDs at that time. Power to the LEDs is supplied in a repetitive pattern consisting of pulses followed by off time. Related methods are also disclosed.