As the name implies, the Triple DEQ provides three bands of dynamic EQ. Each band can be a 6dB/Oct or 12dB/Oct high- or low-pass filter, flat, or a band-pass filter. You can switch the DEQ into either "above" or "below" mode. If you want to know more about how DEQs work, consider reading this great reference.

The gate slot in every channel can be switched to a single band dynamic EQ.

Screenshot of TRIPLE DEQ effect