Hello Ed M,
This can certainly be done, but there are a couple of subtleties to this question, and it is worth asking what your overall goal is. If you use the Envelope Channel function, then you will not necessarily have the same number of points in the upper and lower Y channel, so you would need to linear map the channel with higher resolution to the channel with lower resolution so that they have the same number of data points.
However, the difference between the upper and lower curves (and therefore the resulting values) will vary greatly based on the interval % you input into the Envelope function. This value should not be chosen arbitrarily, because that will really change the meaning of your resulting values.
So, the real question is, what is the qualitative measurement you are trying to make? What are these resulting channels intended to be used for or tell you about your data? I feel like it would make more sense if you were taking the difference between two channels, rather than creating two channels that are loosely based around 1 channel and taking the difference between them.
Could you tell me some more about what you are looking for and if you have any input on these considerations I've brought up, because that will greatly affect how we approach this problem.
Thanks!
Regards,
Marty H.
National Instruments