Explanation of how No Charging Light works.
“The field windings are initially supplied via the ignition switch and charge warning light, which is why the light glows when the ignition is on but the engine is not running. Once the engine is running and the alternator is generating, a diode feeds the field current from the alternator main output, thus equalizing the voltage across the warning light which
goes out. The wire supplying the field current is often referred to as the "exciter" wire. The drawback of this arrangement is that if the warning light fails or the "exciter" wire is disconnected, no priming current reaches the alternator field windings and so the alternator will not generate any power. However, some alternators will self-excite when the engine is revved to a certain speed. The driver may check for a faulty exciter-circuit by ensuring that the warning light is glowing with the engine stopped” found at:
http://www.yourautonetwork.com/alternators.html
On the older AC Delco Alternators where there was a Volt Meter the Alternators have a Resistor added to take the place of the wattage of the warning light bulb.