OK - i think my wind pointer MIGHT be the wrong way round. I had the pointer at the same end as the magnet was/is on my 1-wire sensor - is this correct?
Can anyone help me please? As i look out of the window i see clouds moving across from the left to the right, ie from the west to the east. My wind direction sensir says EAST… Is this correct?
The reported wind direction is the direction the wind is coming from, but you can’t always judge the wind direction at the level of your anemometer by the clouds which are much higher.
If this is a normal wind vane it has a paddle shaped end and a pointed end - right? The pointed end points to the direction that the wind is coming from, so that is the direction you should be reporting. In other words if the pointed end is pointing North, you have a “North wind”.
Use this link to assess the basic wind pattern across the UK. http://www.xcweather.co.uk/ The direction of the arrows is pointing in the direction of where the wind is going TO ie along the wind stream.
Niko’s reponse to your request will tell you which way the anemometer vane should be pointing ie where the wind is coming FROM… Likewise the WD software should also point to where the Wind is coming FROM. For Lancashire UK at the moment the wind is FROM the West(ish) 
Good points Mr Baggins 
It may be specific to my coastal location, but I can get high cloud moving in one direction while the wind at anemometer height is going the opposite way - which is why I suggested he look at the vane itself “just in case”.
Yes, agree with the, “just in case” description. I have seen some very interesting cloud movement up here when the upper cloud movement has been vasly different to that at lower levels. There is also the situation quite often when localised winds (valley winds) or turbulence around large(ish) buildings can change a lowish level anemometer vane completely in opposition to upper cloud movement.
The way to setup the 1 wire weather vane is as follows, when you have put it all together get an elastic band place it over the vane end of the wind pointer and then attach the band to the bar that goes to the pole mount. Now the pointer should read north in your software set this up before you put it up the pole. Then when the pointer is up the pole you know that the so long as you line up the bar and vane/ano housing at north you have got the settings correct.
Steve