An oximeter for non-invasively measuring the oxygen saturation in blood with increased speed and accuracy is disclosed. The oximeter includes a number of features which increase the functionality of the device including: a dynamic range control for monitoring a range of inputs from low level signals encountered in fetal and other applications to typical or high level signals; light emitting devices of different wavelengths for filtering noise and providing additional medial monitoring functions; and an improved method for calculating the oxygenation levels without the need to take peak and valley measurements. The device includes a sensor unit which can be attached to a patient and an oximeter which determines the oxygen saturation in the blood based on signals received from the sensor. The sensor can include light emitting devices in three or more wavelengths to provide additional functions. In the present invention, the detected signal is immediately converted to a digital value.