I lost track of where I posted the information on the waveform monitor, so here it is again....
With a normal exposure the waveform fits within the top and bottom of the display. Notice how the tops are not crushed and the level is not below the upper white line. With the zebra strips turned on, we can see that the whites are not blow out. In some cases, the lighting range is too wide and some white areas may have to be blow out (washed out or over exposed).
This is an example of where it's just too dark. You can see that the white does NOT reach the top of the waveform monitor's display. We really want the white to hit that upper level if possible.
In this example, too much light is coming in and the upper part of the waveform is being flattened against the upper line. If you look at the image, you'll see lots of zebra stripes on the brighter parts.
I like to use zebra stripes all the time, that way I can quickly tell if I'm over exposing parts of the image. In my case, I set the zebras to 105%. One can adjust the image just using the zebras alone, BUT that would always set for the highlights and maybe what you care about is in the shadows. In that case, I would zoom into the area of interest and use the waveform monitor to measure the exposure. There is some forgiveness as to the exposure, you can be off by 1/3 to 1/2 a stop and fix it in post.