How to automate an effect:

FXEq is used as an example. Only DirectX 8 effects with automation support have the ability to be automated.

First click the arrow in the FX field of the audio track and add the FXEq. Next, right click on the audio clip and choose Envelope | Create | FXEq and choose the parameters that you want to automate. Then, right click on the envelope and choose add node. Now you can move the node around to change the value of the parameter.