Apple Final Cut Pro 5 - Manual (Page 897)

110 Part I Media and Project Management
To display clip overlays in the Timeline:
1 Open a sequence in the Timeline, then choose Sequence > Settings.
2 Click the Timeline Options tab, then select the Show Keyframe Overlays checkbox.
You can also toggle the Clip Overlays control in the Timeline.
To display audio waveforms in the Timeline:
1 Open a sequence in the Timeline, then choose Sequence > Settings.
2 Click the Timeline Options tab, then select the Show Audio Waveforms checkbox.
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Tip: To avoid opening Sequence Settings, you can also press Option-Command-W
while the Timeline is active.
To adjust the volume of a single clip with no keyframes:
1 Enable the Clip Overlays control at the bottom of the Timeline to display overlays.
2 Drag the volume level overlay up or down to adjust volume. The overlay is a red line if
the clip is not selected, and a green line if it is.
The pointer changes to an Adjust Line Segment pointer when it’s directly over the
volume level overlay, and a box displays the change in levels as you drag.
Volume level overlay
Change in volume level