Yes, you will need a light or a resistor to emulate the charge indicator. If it is missing, the alternator may work but most likely will not work, your battery will go flat and you'll be stranded.
Use a 50 Ohm, 10 Watt resistor inline with the blue wire going to the alternator. the other end of the resistor connects to switched +12V.
Alternatively, wire a LED, not a signal diode, in place of the resistor. Anode will be connected to switched +12V and cathode to the blue wire.
Post a schematic diagram of what you're trying to hookup using the Acewell and diode. this will help us to visualize the circuit and see if it is correct.