Many master cylinder, especially systems that are a diagonal split, usually use a brake fluid level sensor or Switch in the master cylinder reservoir.
this sensor will light the red brake warning lamp on the dash if low brake fluid level is detected. A float-type sensor or a magnetic reed switch are commonly used and provide a complete electrical circuit when the brake fluid level is low
After refilling the master cylinder reservoir to the correct level, the red "brake" warning lamp should go out
What is oil float ?
It is magnetic and acts as a cue if the brake fluid gets too low, the float reaches the bottom of its travel and closes a set of switch contacts allowing the ABS or brake warning light to come on.