Technical Description of OBD-II Trouble Code
Loss of Air Conditioner Refrigerant Charge
What does that signify?
This is a generic diagnostic trouble code (DTC) that is typically applicable to OBD-II vehicles. Vehicle makes that may be affected include but are not limited to Chevrolet / Chevy, Land Rover, GM, etc.
When a code P0534 is stored, it indicates that the powertrain control module (PCM) has detected a low freon condition in the air conditioning (A/C) system.
The automotive A/C system is lubricated with a combination of specially designed oil and freon. Even if the correct amount of the appropriate oil is present in the A/C system, without the freon, it cannot be circulated to vital areas. Without this mixture, the compressor would experience catastrophic failure and the condenser would become filled with a type of gummy metallic debris.
To safeguard the compressor and other expensive A/C components, pressure sensors are positioned in certain areas of the system.
A high-pressure cutoff switch located at the back of the compressor (or in a discharge line) may protect the A/C system from an extreme overpressure condition. This type of condition is likely to be caused by a lack of airflow across the condenser or an overheating engine.
To protect the A/C system from a low freon condition, a low-pressure cutoff switch is positioned in the suction side of the system near the accumulator or expansion valve (depending on the A/C system configuration).
The A/C low-pressure cutoff switch is equipped with a pressure-sensitive contact that closes when A/C pressure exceeds the targeted level (usually above 30 psi). It typically threads onto a schrader valve on the suction hose or accumulator of the A/C system. As long as A/C system pressure remains within the programmed specifications, the contact in the low-pressure switch remains closed and the A/C compressor clutch power circuit is completed as desired. When A/C system pressure falls below the minimum threshold, the contact in the low-pressure switch opens and interrupts voltage to the compressor clutch.
The A/C low-pressure cutoff switch also provides the PCM with an on/off signal. If the PCM detects a signal from the low-pressure cutoff switch indicating a low freon condition, a code P0534 will be stored and a malfunction indicator lamp (MIL) may illuminate. In most cases, multiple failures will be required for the code to be stored and for MIL illumination.
A refrigerant pressure sensor:

What is the severity of this DTC?
A stored code P0534 exclusively pertains to the A/C system and does not affect engine drivability. It should not be classified as severe.
What are some of the symptoms of the code?
Symptoms of a P0534 diagnostic code may include:
What are some of the common causes of the code?
Causes for this P0534 code may include:
What are some P0534 diagnostic and troubleshooting steps?
When a code P0534 is stored, it is recommended to perform a general performance check of the A/C system. Please note that handling certain types of freon requires a federally mandated certification in many areas. Furthermore, the A/C system should only be serviced by qualified individuals. Freon under high pressure can be dangerous in various ways, and the A/C system can be damaged if the correct amount of freon is not used. Before starting the diagnosis, the A/C system must be filled to the correct level with the appropriate amount and type of freon and oil. If charging specifications are not visible in the underhood area, refer to a reliable source of vehicle information. To service the A/C system, a set of automotive A/C gauges, a vacuum pump, and some type of oil dispenser will be required. If the system has a small leak, it is also recommended to inject an ultraviolet leak detection dye. This will aid in diagnosing a leak if the freon leaks out again.
Once the A/C system has been serviced and is full of freon, it may be necessary to clear the code before power can be restored to the A/C compressor clutch coil. Connect the scanner to the vehicle diagnostic connector and retrieve all stored codes and freeze frame data. Write down all this information before clearing the codes. With the A/C system full of freon, operate it and see if the P0534 code is reset.
If the code is reset, use a digital volt/ohmmeter (DVOM) to check the low-pressure cutoff switch. This can be done by starting the engine and turning the A/C on max with the fan on high. Use caution when working around moving parts and connect the negative test lead of the DVOM to a known good ground. Use the positive test lead to probe the wires of the low-pressure switch connector. This should be done with the low-pressure cutoff switch connector plugged in. All wires (usually three) should have battery voltage..
Here are several possible scenarios:
None of the circuits have voltage
One of the circuits has voltage; the others do not