The ring tester shows intermediate failure conditions that a neon tester won't detect. So long a the strike voltage of the neon is exceeded then it will illuminate, so you can have an impaired/marginal transformer that reads good. It can also tell you which winding is shorted or lower inductance. So I may see a green LED on one half and an amber on the other, yet the transformer may read good with the neon. I find that It will also work with lower inductance transformers that won't generate sufficient voltage to light a neon even where no fault exists, such as SMPS transformers, some chokes and other coils. For that purpose its worth making the sensitivity switchable for high/low inductance
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