And you would be correct, you are looking at the coil pickup or signal generator to control spark, that pickup generates a small charge of electricity when the magnets pass by it, that electric charge goes to your ignition control module where it will be used to send a whole bunch more electricity towards the ignition coil and spark plug.
Coils have measurable resistance unless they are burned or shorted, then they will show the wrong resistance or no resistance at all aka no continuity. You can meter test the coils, meter test the connections and wires, you can meter test the power outputs once you have it somewhat running, but that part #4 the ignition control module is going to be by far you biggest problem to test or replace.