Yes, this is an indicator.

Yes, there is a pattern in Semaphor behaviour and the trading experience
is very important in that case.
Apart from that, for bigger TFs and for larger periods of Semaphore,
the recalculation tends to be smaller. Semaphore with the period 144 looks
very well in the above-enclosed picture, but it results also from the fact that
the price rather consolidates for the range shown.

For comparison, I enclose the similar screenshot, for EURUSD and TF = 15M.