Hi,
an ustrasonic equipment generally has one or more gates.
A gate is a settable time window to define a portion of interest where you want to do the inspection.
A gate is displayed on the screen as an horizontal line and it is defined by: start point, gate width (length) and gate Y position.
From your post I understand your reference signal is the spectrum of the reflected echo when the ultrasonic probe is placed at a distance from the steel plate to have the echo in the center of a defined gate.
Let me know if this was clear enough, I've been dealing with ultrasonic inspections for more than a while,
Alberto