The short antenna held near any mains-carrying cable will detect a current flow. This will be indicated by a flashing light-emitting diode (LED).
The 4060 is a 14-bit counter/oscillator used as a divide by sixteen counter. When the signal is fed to the input (pin 11), the LED will flash at a rate of approx. 3Hz (50 Hz divided by 16 = 3.125 Hz).
If the wire being monitored is not carring mains potential, the LED will either be steady "on" or steady "off".
A 'live' cable will indicate a flashing LED.
It is not recommended this is used as a trusted device - always use the correct equipment when measuring mains-carrying voltages.
Best Regards... Pete
http://www.keirle.fsnet.co.uk