The most common and most likely answer to this crossword clue is the 5 letter word AMBER
I've seen this crossword clue in Financial Times
A
M
B
E
R
More clues leading to the result AMBER
- Warning when first couple have left room
- Light that warns companion leaving compartment
- Colour of sheep-farmer long forgotten
- Find colour in Camberwell
- Insects are often found trapped in this traffic light
- Colour of bream swimming
- Woman that could slow traffic?
- Doctor in hospital department runs traffic light
- Stone room church abandoned
- Cautionary signal recognised at first by doctor in A&E
Buddy explains!

The straight part
We know that "Warning" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case warning = amber.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does AMBER mean?
AMBER noun- Ambergris, the waxy product of the sperm whale.
- A hard, generally yellow to brown translucent fossil resin, used for jewellery. One variety, blue amber, appears blue rather than yellow under direct sunlight.
- A yellow-orange colour.
- The intermediate light in a set of three traffic lights, which when illuminated indicates that drivers should stop short of the intersection if it is safe to do so.
- The stop codon (nucleotide triplet) "UAG", or a mutant which has this stop codon at a premature place in its DNA sequence.
- To perfume or flavour with ambergris.
- To preserve in amber.
- To cause to take on the yellow colour of amber.
- To take on the yellow colour of amber.
- Of a brownish yellow colour, like that of most amber.