diff --git a/gtk2_ardour/level_meter.cc b/gtk2_ardour/level_meter.cc
index 3d91b75878..0035785b61 100644
--- a/gtk2_ardour/level_meter.cc
+++ b/gtk2_ardour/level_meter.cc
@@ -113,7 +113,7 @@ LevelMeter::update_meters ()
 			if (n < nmidi) {
 				(*i).meter->set (peak);
 			} else {
-				(*i).meter->set (log_meter (peak));
+				(*i).meter->set (log_meter (peak), log_meter(_meter->meter_level(n, MeterPeak)));
 			}
 		}
 	}
diff --git a/libs/gtkmm2ext/fastmeter.cc b/libs/gtkmm2ext/fastmeter.cc
index 3dd88e6929..4dbb4cd590 100644
--- a/libs/gtkmm2ext/fastmeter.cc
+++ b/libs/gtkmm2ext/fastmeter.cc
@@ -431,21 +431,26 @@ FastMeter::vertical_expose (GdkEventExpose* ev)
 }
 
 void
-FastMeter::set (float lvl)
+FastMeter::set (float lvl, float peak)
 {
 	float old_level = current_level;
 	float old_peak = current_peak;
+	float peak_lvl = peak;
+
+	if (peak_lvl == -1) {
+		peak_lvl = lvl;
+	}
 
 	current_level = lvl;
 
-	if (lvl > current_peak) {
-		current_peak = lvl;
+	if (peak_lvl >= current_peak) {
+		current_peak = peak_lvl;
 		hold_state = hold_cnt;
 	}
 
 	if (hold_state > 0) {
 		if (--hold_state == 0) {
-			current_peak = lvl;
+			current_peak = peak_lvl;
 		}
 	}
 
diff --git a/libs/gtkmm2ext/gtkmm2ext/fastmeter.h b/libs/gtkmm2ext/gtkmm2ext/fastmeter.h
index 026289c9d3..e16112d557 100644
--- a/libs/gtkmm2ext/gtkmm2ext/fastmeter.h
+++ b/libs/gtkmm2ext/gtkmm2ext/fastmeter.h
@@ -51,7 +51,7 @@ class FastMeter : public Gtk::DrawingArea {
 			);
 	virtual ~FastMeter ();
 
-	void set (float level);
+	void set (float level, float peak = -1);
 	void clear ();
 
 	float get_level() { return current_level; }