Gain LED widget

I think it would be really nice to have some kind of “gain LED” widget.
We all know this type of LED which reacts with its color to the incoming gain level:
normal level -> green
above normal -> yellow
clipping -> red
This would be a small and effective tool to use in rackspaces wherever the incoming/outgoing signal levels are monitored for clipping - it would be much smaller than any LED-bar widget, though it would do the same job.