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yes that is the one I use. It presses a roller against the tire and measures the tires roundness, and where the tire has the most weight or out of round, you match that with the area of the rim that is heaviest.
I rarely use it though, because it involves you having to dismount the rim and tire and match them up again. This is time consuming in my area of work, so unless your car is the only one Im working on all day long, then the regular balancing on this machine works just fine.