Ampmeter shows the current flowing in and out of the battery.
the "-" shows a loss, battery discharging
the "+" shows a gain, battery charging
with the engine not running electrical loads should show a "-" reading
start the engine and the gauge will swing to the "+" and shortly return to the "0" mark
Didn't mention, the "0" is a stable condition where the charging system is providing the electrical power to run the vehicle and the battery is fully charged. After a few minutes of running th needle should stabalize around the "0" mark.
The bouncy needle. Not a sign that the charging system is failing. The voltage regulator may not be as smooth as it once was. Flakey grounds, new loads (EFI is bad for a flakey needle as the injectors fire in short pulses).
What the gauge can tell you...
Always showing "+", you have a dieing battery that will not accept a full charge anymore or the voltage regulator is bad (or bad ground or bad sense wire) causing the charging system to overproduce. Very destructive to batteries. The "cooked" battery from water being overcharged. Generally noticed as the fluid level in the battery is low.
Always "-" you are going to have a dead battery very soon. charging system not working or keeping up.
It can also tell you of a failing system. If the gauge shows all is good, but goes "-" when driving around with the headlight and/or wipers on then you know that the charging system is failing. You can drive around all you want with "0" showing, but not with a "-" showing.
Now if someone wired something directly to the battery, then you are hosed. Since whatever is wired to the battery is on the other side of the ampmeter it will show up as the battery charging by the same amount of amps the device is drawing. Do some headlight relays directly to the battery and now the ampmeter will show a charge with the lights on even though the battery is not getting charged.
Ampmeter is a good tool to show the rate of gain or loss of charge to the battery where a volt meter is only useful for the level of charge. If you watch that you are taking more out then what you are putting in you can catch that there will be a problem before the level drops off (low voltage). Where a volt meter is good for knowing how full the tank is but you may not know that you are loosing level until it is a ways down. But the height gauge (volts) is simplier then measuring flow gauge (amps).
Back to the bouncy needle. You are looking at the flow gauge. You may have a bouncy inflow (charge system) or a bouncy outflow (electrical load). Then it could be a combonation of the two. I have done a complete charging system replacment, (alternator, regulator, battery and a complete rewire) and still had a bouncy needle. Putting the factory capacator (condensor) back on the field wire may help stabalize it if all it is the regulator and not the load causing it.