We have developed the new method for the analysis and visualization of the fine temporal structure of the transient evoked otoacoustic emission signal. The method consists of the presentation of the signal in the form of a set of tone components with a rapidly changing amplitude and relatively stable frequency. It is based on the combination of three spectrograms differing in frequency and temporal resolution by means of fuzzy logic amplitude estimation with subsequent frequency refining with the use of the least square procedure, reduction of the number of the insignificant components, and final re-ordering of the results for the simplification of further data processing. The new method was named Pitch Envelope Analysis (PEA). For data representation, a new type of diagram named componentogram was designed. The proposed method can be used for the real time processing of the continuous data stream especially for speech processing.