On-Board Diagnostic Data Link Connector

Im was reading a repair manual online and they said that you can use a voltmeter to get error codes out of it by connecting the probes the the out wire and the ground wire in the plug. I was just wondering if anyone has used this method before and what exactly i should be looking for on the meter they showed some diagrams where i could see on or off and if it was a long or short on or off time im figuring i could either use a voltmeter like the say to use and see the results by the meter jumping up and down or possibly use a multimeter and use the circuit funtion to hear series of beaps. Am i interpreting this correctly here are some pics from the online manual.

1. Remove the under dash cover, if equipped
2. Connect an analog volt meter between the on-board diagnostics output terminal of the data link connector and ground terminal

http://img.photobucket.com/albums/v426/killazincorp/Automotive/OBDconnector.gif

3. Turn the ignition switch ON
4. Read the output pattern from the voltmeter and record
5. Diagnose and repair the faulty components as required
6. Erase the trouble code
7. Repeat steps 3 to 6 until all trouble codes are extracted

http://img.photobucket.com/albums/v426/killazincorp/Automotive/errorcodes.gif

Last question would I be able to use a digital meter to obtain the same information? Thanks guys for all your help and sorry for the huge oics only ones I could get.