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how can we see the generated square signals
Wouldn't that very much depend on where the signals are available and what frequency or signal levels?
For slow signals, you might use a LED and see if it blinks.
For a bit faster signals, you might use a loudspeaker and listen for the sound.
For even faster signals, you would normally use a logic analyzer or an oscilloscope. But a better multimeter with frequency counting ability might be enough.
If just using the simulator, then there is a virtual logic analyzer available in uVision - but this also requires that the simulator fully support the specific hardware functionality of your processor so that it is able to produce the required simulated output.