Oh, more importantly, I forgot to mention  those ‘little arrows’.  That means the parameter is also controlled by some  external device.  It could be a HotKnob, expression pedal, aux switch, MIDI.

Each arrow itself marks a point in the range of the external device’s control.  A start or end point of its influence, and those start & end points can be inverted for a reversed response.  The range itself being the colored band around the circumference.