I can’t get your diagram to open. So I’m using the one I linked to in out tech library.
First, if you are using your meter to measure continuity, disconnect your battery. Continuity and resistance readings should only be done in dead circuits because the meter uses its own battery to do the measurement. Any other power will interfere and on high voltages, could damage the meter or worse.
The black/orange wire should have battery voltage on it at the B terminal of the alternator. That voltage comes from the battery, through a fusible link attached at the starter relay on the fender.
You should have a wire connected from the field (F) terminal on the alternator going to F at the regulator. That wire energizes the field winding. The regulator controls the voltage on that wire in order to maintain the proper output voltage to charge the battery and supply loads.
The wire going from S on the alternator back to the regulator is the feedback signal. That is how the regulator knows whether to increase or decrease the field voltage to maintain the proper output voltage.
Your alternator should be grounded to the engine block and the engine block should be grounded back to the battery. Make sure that is the case. Adding a ground wire from the alternator back to battery negative won’t hurt anything.
Somewhere along the black/orange wire there should be 2 splices. One will be a wire going to the ammeter in the cab. The other should have a wire going to the ammeter AND a wire going to the A terminal of the regulator and the noise capacitor. This is the power supply that the ammeter uses to control the field strength. The noise capacitor is just a convenience to prevent whining interference in your radio.
The regulator case needs a good clean connection to ground in order to work properly. No paint. No rust.
In all things electrical, ground connections are equally important as voltage connections.