The GTR™ system also includes an essential toolkit of basic effects that are a part of every guitar player’s basic rig. These gates, compressors and equalizers give you the power to custom contour your sound for any musical situation.
The Gate/Comp puts two essential applications in one convenient Stomp. It works well as the first in a chain of effects. The Gate component is useful for eliminating unnecessary input noise, especially when using single coil pickups with distortion effects and high gain amps. The Compressor is useful in smoothing out your sound. The Gate Comp is offered in Mono and Stereo.
GATE: -80 to -24dB; Default: -60 This sets the sensitivity of the gate. The higher the setting, the louder a noise will have to be in order to pass through.
COMP: 0 to 100; Default: 50 This controls the amount of compression that is added to your guitar signal.
Waves Guitar Tool Rack User Guide.