Not. I have found it impossible to get good, consistent and reliable readings from an ultrasonic based system used to monitor a water tank . Reasons include:
- spurious results reported by the hardware
- anything causing reflections above the water level interferes with what should be the stronger reflection from the actual water.
- Spider webs!
- Stillage tube with condensation on the inside
- Stillage tube crud inside at high-water mark
..so to conclude, next step is to come up with a capacitance based measuring device. Watch this space.