Just so I understand this, would performing a voltage drop test with the power probe be as simple as touching the power side and looking for near zero v at the tip and then the same on the ground side looking for near zero, since the cables are both running straight to the battery? With a loaded circuit of course. Could you even load the circuit with the probe too if needed with the rocker switch?
Yes as with a volts drop test using any kind of voltmeter you are just checkinf by how much the load current is causing a voltage drop from one end of the wire to the other lost due to the resistance in the wire and connectors.
One thing to be aware of is the Power Probe IV has an internal resistance of only 350 kOhm it might not seem a problem but could be if you are measuring signal and supply voltages on high impedance (high resistance) electronic circuits as it is enough cause significant drop in the voltages you read. Compare this with decent quality DVOM will usually have a 10 mOhm internal resistance.
For power circuits the Power Probe IV is a go to tool but circuits such as speed sensors choose a digital multimeter.
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