The Phaser effect gives a swirling "whooshing" quality to the sound. It works by mixing the original signal with a signal that has its phase modulated by an LFO (low frequency oscillator) which creates notches that move back and forth across the frequency spectrum. It uses all-pass filters to create the phase shift, where a flanger does it by delaying the audio signal.
Effect Variation - 1. Has a rate and a right channel phase control. 2. Has left and right rate controls.
Frequency - The pitch of the notches.
Resonance - The amount of the output signal that is fed back into the input. Increases the strength of the phaser effect. Negative numbers invert the feedback signal.
Stages - The number of stages. 4, 6, 8, 10 and 12. It takes two stages to make one notch. So for example, four stages would have two notches.
LFO Rate - The speed the phase is modulated.
LFO Sync - Synchronizes the LFO with the tempo. Available in the multitrack editor only.
LFO Depth - The amount the phase is modulated.
LFO Phase - The phase difference between the left and right LFOs. 90 degrees is common for a stereo effect.
Stereo Spread - The width of the stereo image. Negative numbers swap the left and right outputs.
Dry/Wet - The balance between the dry and wet signals.