The invention provides an in-line power monitor for an RF transmission line that is capable of being calibrated in-line during live conditions at the exact power level and frequency where it is used. This device uses forward and reflected directional couplers and a non-directional coupler to sample the RF voltage on the transmission line. The RF voltage of the forward and reflected channels are each split into two paths, one going to a test port and the other leading to additional circuitry which prepares the signals of the forward and reflected channels for output to power displays. Additionally, the monitor allows the user to compensate for any voltage offsets introduced by various circuitry components. Further, the monitor also allows to user to individually calibrate the output of the forward and reflected channels by applying an adjustable gain ratio correction to each channel.