In the track list, select the FX channel track that contains the effect for which you want to set the level.
Open the Inserts section of the Inspector and click the effect slot to open the effect control panel.
In the effect control panel, set the Mix control to 100.
This allows for full control of the effect level when you use the effect sends to control the signal balance later.
In the track list, select the audio track that is routed through the effect for which you want to set the level.
Click Edit Channel Settings to open the Channel Settings window for the audio track.
In the Sends section on the Destinations tab, locate the effect slot and drag to the left or right to set the send level.
This determines how much of the signal from the audio channel is routed to the FX channel.
Result
The effect level is adjusted according to your settings.
Note
To determine how much of the signal from the FX channel is sent to the output bus, open the Channel Settings window for the FX channel track and adjust the effect return level.