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Coolant below opening temp of the thermostat or engine off, you cannot look into the radiator filler and see if you are low on coolant which causes the coolant light to come on intermittently. This is because the engine is lower than the radiator top and air stays in the upper part of the engine and the radiator always looks full. C4's have to be, "burped", that is, the trapped air must be replaced with coolant. Older C4's you turn the rad cap to its first notch and let engine idle to the opening temp of the thermostat, then race the engine slightly and slowly open the rad cap (in that order). Look into the rad, you will see the coolant level drop if there is air in the engine. If it drops, keep the engine revs up and pour coolant into the filler until it is full, replace the rad cap and let the engine back down to idle. If you have had the coolant drained, air also gets trapped in the heater core and you might have to burp several times to get all the air out of the system. Next, always have at least 1/2 the overflow bottle filled with coolant, if it runs out of coolant, then it starts pulling air into the cooling system as it cools down and you will get the low coolant light. If the coolant level stays full during the test I described, then you might have a defective low coolant sensor in the radiator. Later C4's have a screw at the thermostat housing that you loosen to let air out of the system while the engine is running.
Feel free to correct me if I am wrong but in the OPs 95 you cannot look into the radiator. if the coolent falls below the lower overflow hose in the surge tank the coolent light will come on.
Follow the procedure outlined above withthe following modification. with the engine cold, remove the pressure cap from the surge tank and start the car. Let it idle until the thermostat opens and the fluid may then drop to it's "natural level". Let the engine cool and fill until coolent reaches the level of the upper overflow hose and starts trickling into the overflow plastic tank behind the passenger front wheel. Replace the pressure cap.
If the light comes back on repeat the process as necessary