This document discusses the theory of acid-base indicators used in titration reactions. It explains that indicators change color within a certain pH range, allowing determination of the endpoint. Two theories are presented: Ostwald's theory states that color change is due to ionization of the indicator, while quinonoid theory proposes the indicator exists in two tautomeric forms in equilibrium, with different colors. Common indicators like phenolphthalein and methyl orange are discussed in the context of the two theories.