Volume
Shape category, section-level.
Sets the loudness of the track. It is the last effect in the chain, so it adjusts the output after everything else has been applied.
Controls
Gain. Turned down it reduces the track's level, turned up it boosts it. There is a marked centre position that leaves the level exactly as it arrived, so you can always get back to no change.
There are no presets. The knob is the whole effect.
When to use it
Per-section volume is how you build dynamic contrast: a quieter verse, a louder chorus. Automate it for fade-ins, fade-outs and sudden drops. See automation.