This water sensor module is part of the Twig system. This sensor works by having a series of exposed traces connected to ground and interlaced between the grounded traces are the sens traces. The sensor traces have a weak pull-up resistor of 1 MΩ. The resistor will pull the sensor trace value high until a drop of water shorts the sensor trace to the grounded trace. Believe it or not this circuit will work with the digital I/O pins of your Arduino or you can use it with the analog pins to detect the amount of water induced contact between the grounded and sensor traces.
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