Visualizing execution of an application in a trace coverage graph includes receiving module trace data gathered during execution of an executable module. The module trace data includes data representing sequences of execution between individual executable components. A trace coverage graph is generated and displayed from the module trace data. The trace coverage graph includes graph nodes that each correspond to a different executable component. The trace coverage graph also includes graph edges that each visually connects two of the graph nodes. Each graph edge visually indicates an amount of trace data present for the sequence of execution between the graph nodes that are connected by the graph edge. Thicker graph edges represent the presence of a larger amount of trace data, and thinner graph edges represent the presence of a lesser amount of trace data.