You must use external power supply to the watt meter if the battery voltage is below 4V. The 3-pin connector is for external power. It's meant to be fed from a receiver battery pack (for RC equipment) of minimum 4.8V. 0V is closest to the wires, + in the middle. The pin most far away from the wires is meant as a reset for the hour / energy counter. Connect to 0V for reset.
It's Chinese, so check that your meter is connected with + in the middle.
I don't know if the external power must be floating, or if it can share 0V with the input.
I have seen different types of this meter. Some of them will release smoke if used without external power, and the voltage on the input terminal is about 30V. Search for 60A 100V watt meter, and you will find a lot of information.