I want to know what the white waveform means (it's underlined using red colour in the pic attacthed). Can you tell me what it is called and which function it has?
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I think it is only activated when the cursor is over a track that is displaying a waveform, and next to it, the sample value for that position of the mouse over the track.
For example, if you are working on some volume automation for a certain track, try hovering the mouse over that particular track to see how that white waveform icon disappears from the transport area.