An amplifier or opamp has extremely high gain. Negative feedback is added to reduce the gain to a reasonable amount which also reduces the distortion.
The volume control feeds a divided signal level to the amplifier and the gain of the amplifier remains the same as when it was built. Then you simply attenuate the output of the amplifier to almost the same level as the input of the amplifier.
You attenuate with a voltage divider made with two series resistors.
The clipping LED lights whenever the attenuated output level is less than the input level.
You probably want to add precision rectifiers and peak detectors ahead of the comparator.
The volume control feeds a divided signal level to the amplifier and the gain of the amplifier remains the same as when it was built. Then you simply attenuate the output of the amplifier to almost the same level as the input of the amplifier.
You attenuate with a voltage divider made with two series resistors.
The clipping LED lights whenever the attenuated output level is less than the input level.
You probably want to add precision rectifiers and peak detectors ahead of the comparator.