The invention relates to a method of measuring elongation of a fastener by means of minimum peak side lobe (MPS) coded ultrasonic signals, and a power tool configured to performing the method. MPS coded signals with different base frequencies are transmitted into the fastener and a corresponding set of reflected signals are received from the fastener. Each reflected signal is cross-correlated with the corresponding transmitted signal, and a quality attribute of each transmitted signal is determined from the cross-correlated signals. Based on the quality attributes at least one parameter of an ultrasonic measurement signal is determined and the measurement is performed by transmitting the ultrasonic measurement signal into the fastener, and receiving a reflected ultrasonic measurement signal.