Ranger, this is from memory, so it would need to be fact-checked before it ran in GRM, but:
Each of the front wheels has a magnetic sensor floating just above a special circumferential portion of the hub or CV joint area. The special portion is carved evenly with high and low bits at right angles.
Here’s a crude ASCII drawing of what the grooved section looks like in profile since I don’t have a picture handy. Imagine the top part of a castle wall.
INSIDE OF AXLE, FLAT HERE BUT ROUNDED IN REAL LIFE
| || || || || || ||
/\ <SENSOR HEAD
||
So the sensor floats above these ridges and as the wheel spins so does the hub and the axle, and their passage under the magnetic tip of the sensor generates a simple signal. (Dunno how the rear wheels are handled in our cars, might be based on a sensor in the diff) The faster the ridges go by, the higher the frequency of the signal generated.
The ABS computer watches the signal from each wheel, and depending on the complexity of the computer compares it to other wheel speed sensors or simply to itself. If the speed goes from 50MPH to zero in an instant, the computer assumes that the wheel has locked up and triggers the ABS solenoid to pulse for that particular wheel, applying and releasing pressure rapidly to prevent lockup. That’s the pulsing sensation you feel through the pedal.
Hope that helps get you started, I’m sure Google knows more than I do.