It always helps to actually check the Data Sheet.
"Ultra Low Forward Voltage Drop" of 0.55 v at 20 amps, and a TO-220AB package.... with Anodes pins 1 and 3 and common Cathode pin 2 (and tab). The actual diode symbols are quite hard to see on these things sometimes.
And your Meter instruction manual or data sheet should tell you what "units" it reports in the Diode Check mode.
So if you connect the meter with the Positive (Red) probe to the Anode and the Black (negative) probe to the Cathode, you should read the the forward voltage of around 0.5 to 0.7 volts. More or less depending on lead resistance, the meter's test current, and the day of the week. Connected the other way round you should read "open circuit", however the meter reports that. The Cen-Tech for instance will read "1" on an open circuit or a diode connected with + probe to Cathode and - probe to Anode.
If the diode is good, that is. If the diode is shorted, you will probably read some low to intermediate voltage which will be the same or similar in both directions. If the diode is open, you will read "1" or whatever your meter reports for open circuit, in both directions.