Timeline Sheet
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Play sound left to right.
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If no loop regions are added, the timeline will play until the end of the last sound.
Parameter Sheet
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Hitting play on the parameter sheet will not making the playback position move forward. The playback position is controlled by the current parameter value.
Action Sheet
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Triggers sounds as soon as the event starts, either consecutively or concurrently.
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It doesn't use a playback position.
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Used for simple sounds that doesn't require the playback position.
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To make a sound loop, click on it inside the Action Sheet and you'll see it's properties down below.