I hate to say it but, gen sender units leave alot to be desired.
you may be better off getting something aftermarket and not put to much trust in a light.
dont shoot the messenger.
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Yeah your spot on robo, the oil sender in tb42's are notorious for failing. But flash codes are a tcu thing not sender related. Its a primitive way of seeing any fault codes (before you were able to plug a diagnostic device in)
Very true Robo, just like a water temp gauge that doesn't tell you what the water temp is *L*
I can tell you, yours is a Type A Combination Meter
Yeah thats the thing if you hook up a aftermarket sender and gauge you may well see a different picture not to say bad, but fluctuating readings, more real time, not just a steady needle.
In short, This was advice given to me by World Travelled Engine Builder.
cheers