By employing quantum renormalization group (QRG) method, we investigate quantum phase transitions (QPT) in the Ising transverse field (ITF) model and in the XXZ Heisenberg model, with and without Dzyaloshinskii Moriya (DM) interaction, on a periodic chain of N lattice sites. We adopt a new approach called spin squeezing as an indicator of QPT. Spin squeezing, through analytical expression of a spin squeezing parameter, is calculated after each step of QRG. As the scale of the system becomes larger, (after many QRG steps), the ground state (GS) spin squeezing parameters show an abrupt change at a quantum critical point (QCP). Moreover, in all of the studied models, the first derivative of the spin squeezing parameter with respect to the control parameter is discontinuous, which is a signature of QPT. The spin squeezing parameters develop their saturated values after enough QRG iterations. The divergence exponent of the first derivative of the spin squeezing parameter in the near vicinity of the QCP is associated with the critical exponent of the correlation length.