There are many applications where the accuracy of a digital or analogue (bar graph) is not required but something better than a simple low/high indicator is desirable. A battery charge level indicator in a car is a good example.This simple circuit requiring only two LEDs (preferably one with a green and red LED in a single package), a cheap CMOS IC type 4093 and a few resistors should fulfil many such applications. With a suitable sensor, the indicator will display the relevant quantity as a colour ranging from red through orange and yellow to green.
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