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This paper presents the Waveform Analyzers software, a tool that leverages the power of the Microsoft .NET Framework, and developed to allow users to design and experiment with their own relay functions. Relay functions can be developed using any .NET language, including C# and Visual Basic, and tested against waveforms prerecorded in COMTRADE format. The combination of .NET and the software developed offers testing capabilities at different levels: (a) event reporting for relay functions, (b) plotting and visualization tools, and (c) the ability to fine-tune the protection logic while the program is running, to compare different variants of the same function side-by-side. These capabilities can make students and engineers obtain results faster, and help them gain insights of the phenomena involved in the operation of a relay. In addition, it can incorporate relay algorithms that manufacturers may provide in the form of DLLs, so that can be also tested using the software, with the benefits of its visualization tools. As a result, the integration of the .NET execution environment makes the Waveform Analyzers software a unique platform to experiment with relay algorithms and waveform analysis in general.