No not correct. What car is this in, IE is this stock wiring, or has it been added, or did you just hook it up? That is, DID it work sometime earlier?

Here's a simplified diagram:



Normally the wire which goes from ign to igniton and to one field is blue. This should have 12V from key in "run"

The wire from the other field to the regulator is normally green. The regulator controls the "grounding" so to speak of that wire. It sounds like the blue is not getting 12V

Have you been doing some rewiring, like, changing the igniton?