Completed My logic Probe today and it is working well. The first thing I did was improve my soldering from the first attempt, because I found it difficult to add the small heat shrink over the top of the positive and negative wire to protect the soldering of the LED and resistor 

Close up of the heat shrinking that is over the resistor and LED
 on each wire you can see the bulge from the resistor underneath
the Red heat shrink is holding the parts in place

The next thing I did was grind the tip into the brass rod to make the point of the probe and then cover it in black heat shrink, to prevent the current earthing before it can be checked. I then joined it all together and held it in place with the red shrink.

After that I wound the LED legs around the rod, on the brass that was kept exposed to hold LEDs in place.

LEDs, brass rod, and wires held together with shrink. Also shows how LED legs
were wound around rod

The next part I did was cut a slit into a piece of clear tubing to protect the wires from damage. Before I covered it I soldered the LED legs in place and found that it was short circuiting because the LEDs were to close together. Meaning that only 1 LED was going. After I moved them apart it worked fine.

Once it was okay I slipped the clear tubing over the top of the wires and heat shrink. Then got the 10mm heat shrink and also slipped that over the top of the clear tube, then shrunk it in place, with a heat gun. After adding a few extra pieces to improve its appearance It was completed and working correctly.

  

Completed  logic probe 10mm heat shrink over the top of clear tubing and first 

lot of heat shrink

Probe showing positive flow green LED is on

Probe showing negative flow red LED is on

Probe working when no current is being tested both LEDs on