First, let's understand how these systems work. The car/truck must have a sensor at each wheel to know for sure if any wheels are slipping. The usual method is to use a tone ring and sensor as shown below.
The data stream from each of the 4 sensors is evaluated and delivered to the ABS system, which, if the brakes are applied, will essentially pump the brakes for you to prevent skidding. If the brakes are not applied but you have traction control, the traction control system will limit the differental behavoir of the drive wheels to help you get traction. If you don't have traction control, the ABS system may alert you to wheel slippage with a "low trac" light. The logic and electronics associated with the reactive systems is different on different models, and that is why troubleshooting those parts of the system requires special scanners and training.
OK, so what can you do about getting those lights off without paying a specialist big bucks?
You can inspect the wheels for damaged tone rings, broken sensor wires or connectors, and misaligned sensors. The tone ring is usually visible at the end of the CV boot on a drive axle or behind the rotor on a non-drive wheel. For wheels with drum brakes, the tone ring may be inside the drum.
Spin the wheel looking closely at the tone ring for any missing or chipped teeth or a break in the ring. Check the sensor alignment to the tone ring and also the distance
its a little niddle at each four control arms that gets stuck,if you can lift your car up you can see what im talking about and spray the joints with WD40 and see if that helps.