A water Cherenkov luminosity monitor system with associated electronics has been developed for the A4 parity violation experiment at MAMI. The detector system measures the luminosity of the hydrogen target hit by the MAMI electron beam and monitors the stability of the liquid hydrogen target. Both is required for the precise study of the count rate asymmetries in the scattering of longitudinally polarized electrons on unpolarized protons. Any helicity correlated fluctuation of the target density leads to false asymmetries. The performance of the luminosity monitor, investigated in about 2000 hours with electron beam, and the results of its application in the A4 experiment are presented.