Try to perform live recognition of chords with the microphone of your phone as input.

It also shows the strongest bass.

Chord types recognized are:
Major, minor, 6, m6, 7, m7, dim, dim7, 4, 7sus4, maj7, +5, 7+5, sus2.

Easy mode On,
reduces the detection only to minor and major and 7 chords, improving accuracy.
Also enable a most restrictive audio pre-processing filtering.
Is intended to music with simple harmonic contents or for musicians that likes simple chords.

The slide bar changes the threshold of energy for chord that will be considered on creating the progression, according to level bar above that show the energy level of current chord.
Should be used to filter out low level noise.

For details about chords you can see wikipedia at
http://en.wikipedia.org/wiki/Chord_(music)