Yes, ddmcse is right. The sensor is in the bottom of the overflow bottle. Your radiator can be completely empty, as long as the overflow has coolant in it, the light will not go on.
Let me guess, only when you take left hand turns it flickers, am I correct? Same thing was happening to me, oh, about 2 weeks before my head gasket finally let go. It happens because you are losing coolant from "somewhere" and the cooling system is compensating by drawing more coolant from the overflow bottle. Then, when you take that hard turn, what little coolant is left in the overflow sloshes to the side of the bottle that doesn't have the sensor. Then the sensor is not covered with coolant and the light comes on or flickers. Take your overflow bottle off, 2 10mm bolts, see where the sensor is? On the drivers side of the bottle. If you don't see any coolant leaking on the ground, you have an internal leak.
I don't see a new head gasket in your sig. Every single MK3 supra has a leaking head gasket straight from the factory. If you have a stock, factory, 20 year old head gasket, I'd bet a large sum of money its leaking. DO A BLOCK TEST.
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