Android Studio was nicely integrated with Traceview (http://tools.android.com/tips/traceview). But I've recently updated to 1.2 Beta 3 and can't find this button. Can you help?
I've found it under the 'CPU' tab in the 'Android' view:
The 'CPU' view was added in the AS 1.2 Preview 2 along with the 'Memory' view.