The Histogram displays the distribution of waveform peaks in the audio signal. This graph is based on audio playback. If you select and play a short loop, the histogram is based on that data. If you select and play a longer section, the Histogram is based on that. Maxim holds peak data until you click the Histogram to clear it.
The Histogram provides a visual reference for comparing the density of waveform peaks at different decibel levels. You can then base limiting decisions on this data.
The X axis of the Histogram shows the number of waveform peaks occurring at specific dB levels. The Y axis shows the specific dB level at which these peaks occur. The more waveform peaks that occur at a specific dB level, the longer the X-axis line. If there appears to be a pronounced spike at a certain dB level (4 dB for example), it means that there are a relatively large number of waveform peaks occurring at that level. You can then use this information to decide how much limiting to apply to the signal.
By dragging the Threshold slider downwards, you can visually adjust the level at which limiting will occur. Maxim displays the affected range in orange.