Reading Waveform Monitor (Pal) while adjusting (Y) levels
If you are a Canopus Edius Pro3 or 2.5 user, use the YUV curve filter for best results 
1. Adjust the black level first by increasing (upwards) black level so nothing touches the 0 IRE line, then slowly decrease (downwards) until anything that should be black just touches the 0 IRE line or a bit higher if you wish to see detail in the black. (this method avoids black clipping). Add a node to the diagonal line and move in order to change the gamma (mid) levels, this is useful for improving shots that were shot to dark.
2. Decrease (downwards) the luminance level until nothing touches the 100 IRE line, then slowly increase (upwards) until the brightest part such as white just touches the 100 IRE line. (this method avoids white clipping)
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