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2nd Gen Ram Tech1994-2001 Rams: This section is for TECHNICAL discussions only, that involve the 1994 through 2001 Rams. For any non-tech discussions, please direct your attention to the "General discussion/NON-tech" sub sections.
I'm not sure of how the old rear mounted sensor(trans) works but the one on the rear itself is read by pulses from a tone ring. It has to read a voltage difference or pulse one way or another.