We demonstrate that a dual-wavelength photodetector can be used to determine simultaneously the wavelength and the power level of a lightwave signal. The signal wavelength is determined by monitoring the ratio of the two outputs from this photodetector at the crossover of its responsivity curves; the signal level is determined from the sum of the two outputs. Possible applications for this type of photodetector include mode-control of single-frequency injection lasers, direct demodulation for lightwave systems utilising frequency-shift-keyed transmission, wavelength-division multiplexing and optical logic.