That meter will tell you just about everything you nee to know.
As stated above, test the voltage at the battery AND at the alternator.
They Should be virtually the same, but there might be a Small amount of voltage difference between the two, less than .2v
Set the meter to DC Volts, ground the black lead and put the red one to the the stud on the back of the alternator. With RPMs above idle you should read 14.xx volts. Same test at the battery, same reading.
Engine off, key off, same tests should get 12.xx.
Are you having battery problems? If so let me know and I'll walk you thru troubleshooting.