Yup! And on the left side, the decimal number above the "C" is the current G on the aircraft, so you can see that number increase as he recovers.

For OP, here's a great guide that ChuckOwl of the DCS community did for the F-16C in game. HUD breakdown is on page 35 of the PDF.

https://www.mudspike.com/chucks-guides-dcs-f-16c-viper/