DXVUMeterNET is a useful library, which can monitor any audio device configured as a recording source, such as a Microphone, CD, Line in, etc., and display the monitored audio levels like a standard VU Meter, as an Oscilloscope (waveform) or even display the audio in the frequency domain (FFT) using various display modes (line, filled graph, bars, led bars or even a color spectrum).
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