All of the objects added to the ChartView are stored in a list. If you want to reset the list back to empty, you can do that with the ChartView ResetChartObjList method.
private void InitializeMeter()
{
ChartView chartVu = this;
this.ResetChartObjectList();
CartesianCoordinates pTransform1 = new CartesianCoordinates( 0.0, 0.0, 1.0, ymax);
You should also verify by placing a breakpoint in the InitializeMeter method that the method is being called everytime the button is clicked, and that indeed the new parameters for the meter reflect the parameters that you want.