I'm also trying to install one too.
What I have found is that since it is for bicycle the usuall magnetic is very weak, thus requires the sensor to be as close as possible.
I am trying out some strong industrial magnetics instead of the original weak one.
Before installing, check if you get a reading and check the maximum distance between magnetic and sensor.
I am installing mine on the rear tire. The sensor is attached to the chain cover.
Still checking for the optimum radius though, because I was wondering whether different radius selection would differ the results,
Good luck. Bong