Static Value Line
When you open an automation track for the first time, it does not contain any automation events. This is reflected in the event display as a dotted horizontal line, the static value line. This line represents the current parameter setting.
If you manually added any automation events or used write automation for the corresponding parameter and then disable the reading of automation data, the automation curve is grayed out in the event display and the static value line is used instead.
As soon as Read is enabled, the automation curve is used.