Converting psfrag for use with pdflatex and lualatex
The package {psfrag} only works with the route latex -> dvipdf (or latex -> dvips -> ps2pdf), and not directly with pdflatex or lualatex. One way to get around this problem is to convert the whole figure, including {psfrag}, to a .pdf figure, which can then be included directly. In order to do that, start with the following template:
\documentclass{standalone}
\usepackage{graphicx,psfrag}
\usepackage{schoolbook} % Choose the same font as your document.
\textwidth=117mm % Set the same width as your document.
\begin{document}
\psfrag{M}[l][l]{Mätsignal}
\psfrag{S}[l][l]{Styrsignal}
\psfrag{L}[][]{$L$}
\includegraphics[width=0.9\textwidth]{figure.eps}
\end{document}