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To avoid electric network impact and interruption causing by larger load running, we hope to use some ways to compensate it and improve electric power quality, which one of most key is to find an accurate and effective method to monitor voltage fluctuation and flicker. This paper adopts synchronous square arithmetic module of IEC supporting, and combines wavelet multi-resolution theory to analyze voltage flicker signal. Experiment results shows that this method has good transient signal monitoring and time-frequency analysis characteristic, which can accurately measure frequency and amplitude of amplitude modulation voltage, as well as gain start-end time and singular degree of transient signal. This method provides a theoretical basis to inhibit and control voltage fluctuation-flicker signal effect to power quality, which has a broad application prospect and popularization value.