A signal analyzer and a method for displaying code-channel power levels of CDMA (Code Division Multiple Access) signal that contains code changes having different spreading factors. The individual code-channel power level is measured from a received signal and displayed in a diagram for a specified base spreading factor. The code channels having an alias power level are indicated. A code channel, with regard to the specified base spreading factor, has an alias power level when the code channel having the base spreading factor is inactive and when a code channel of a higher spreading factor (corresponding to the former code channel) is active, or, in the event of orthogonal transmit diversity, the power level of a code channel is mapped onto the code channel of the base spreading factor.