A boiling water reactor includes a reactor pressure vessel having a feedwater inlet for the introduction of recycled steam condensate and/or makeup coolant into the vessel, and a steam outlet for the discharge of produced steam for appropriate work. A fuel core is located within a lower area of the pressure vessel. The fuel core is surrounded by a core shroud spaced inward from the wall of the pressure vessel to provide an annular downcomer forming a coolant flow path between the vessel wall and the core shroud. A probe system that includes a combination of conductivity/resistivity probes and/or one or more time-domain reflectometer (TDR) probes is at least partially located within the downcomer. The probe system measures the coolant level and flow velocity within the downcomer.