Click on Options in the function bar below the main menu and select Global Options - Audio Level on the left.
Here you can set the various modes of the audio level display:
Peak Level ...is the default setting and shows the peak level based on a quantized data stream. This mode has little significance with regard to the loudness of an audio signal but plays an essential role in numerically correct level control of the digital audio signal.
K-XX/RMS (K-System) ...enables the K-System for audio level and volume management introduced by Bob Katz. You can choose K-12, K-14 or K20 following which the RMS level is displayed which is more closely related to the actual loudness. The Peak Levelis also displayed but in narrow gray bars. Further information on the K-system can be found in topic The K-System - Monitoring volume and dynamic range.
For the RMS level a time window of 600 milliseconds located before the locator is evaluated. Therefore, the RMS level display starts indicating even before a sound object, which is quite normal in this connection.
Here you can select a background color for the level display of every stereo channel:
To do so, click in the corresponding field. This way, various channels can be assigned different colors to characterize them. Details on color selection.
If you want to deactivate the individual background, click and check Use standard colors.
The Audio Level display is located on tab Audio Level in the Project Explorer. The indication for playback duration is automatically shown unless tab Control Panel has been selected.