Two things you can try:
In preface to the first, the most common (perhaps ONLY) use of local variables should be in transferring data between parallel loops. This is a matter of discipline, and creates programs that are easier to understand, take less time and memory, and are just plain cleaner. Having said that, to transfer data between loops, use a local variable.
Second solution: Instead of setting the value to false, just hide the indicator in question by using control references (property nodes for prev. version of LabVIEW). Control references are a great way to control items on a dialog or HMI screen.