You can do all that with a testlight or a analog meter with a needle on it. Your tester probably does actually do some things with a older GM or Chrysler, but not on the Ford. It's just a glorified testlight itself when it comes to the old Fords. Your tester is easier since it does all the jumper sequences for you, but it can all be done with a regular testlight.
This is how you enter the wiggle test for example;
First thing to do is clear the memory codes. To do this, enter the KOEO test, and when the first memory code comes up, pull the jumper wire off the connectors and then turn the key off. The memory codes will be cleared.
To then enter the wiggle test, do the KOEO retrieval again Immediately after the last code is received, disconnect the jumper wire and then reconnect it At this point the testlight will be off, and then you can pull and twist the wiring or tap on the devices. Watch the testlight while doing this, if it suddenly lights when you are testing, you have found a open, short, or ground problem.