First set up the monitor or viewfinder so that the 100% white square is shown as peak white on the monitor. This is done by increasing the contrast control until the white box stops getting brighter on the screen. Once it reaches maximum brightness, back the contrast level down until you can just perceive the tiniest of brightness changes on the screen.
Once this is set you now use the pluge bars to set up the black level. The pluge bars are the narrow near black bars that I’ve marked as -2% +2% and +4% in the picture they are each separated by black. The -2% bar is blacker than black so we should not be able to see this. Using the brightness control adjust the screen so that you can’t see the -2% bar but can just see the +2% bar. The 4% bar should also be visible separated from the 2% bar by black.
Color is harder to set accurately. Looking at the bars, the main upper bars are 75% bars so these are fully saturated, but only at 75% luma. The 4 coloured boxes, 2 on each side, two thirds of the way down the pattern are 100% fully saturated boxes. Using the outer 100% boxes increase the saturation or colour level until the color vibrance of the outer boxes stops increasing, then back the level down again until you just perceive the color decreasing. I find this easiest to see with the blue box.
Now you should have good, well saturated looking bars on you monitor or LCD and provided it is of reasonable quality it should be calibrated adequately well for judging exposure.
I find that on an EX or F3 the LCD panel ends up with the contrast at zero, colour at zero and brightness at about +28 on most cameras.