I wanted to check if this is possible, i looked around in the net and i didn't find one answer.
Is it possible to use a phone via app to send a signal into a circuit and to receive the same signal back in the app?
Basically is there a library that i can use to work with such signals?
Thanks.
A phone, even smart, is not really intended to control an electrical circuit by sending it signals. To do this comfortably, you need GPIO, ie pins whose you can control the output.
Your best bet is probably to buy yourself an Arduino, and to have it communicate with your phone over bluetooth. You'll most likely have to develop your own application, as well as the program for the Arduino.
You could also have a look at the Raspberry, as it offers GPIO as well. It might be a good tool for managing another circuit, but it all depends on what you exactly want to achieve.