If you have sceen the wave form monitor, histagram, RGB Perade, and the vector scope. This is a clip from a tutorial that explains what the vector scope and the wave form monitor are. It is very well explained and very simple to understand and follow. It found it very helpful for me, to help me color correct better and more accurately. It is a video that is large in size so give it a bit to load in. It is about 10 min.

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http://finalcutpro.digitalmedianet.com/articles/viewarticle.jsp?id=63662