could be device similar to velocity device but actualy following audio signal strenth
and be strenth ajust some effects parameters
then you could make auto filters, revrb gateing, similar effekt to sidech compression, etc…
i jus said similar effect, if signal peak device would be on track 1 and controled parameter ( for example volume ) on track 2, what would be similar to sidekick effect (maybe i am wrong)
I think that the problem described into KVR forum regarding FL plugin is the same that Renoise would have with an AmplitudeDevice, which has already pointed out many times: the control rate of Renoise meta devices (id est: the frequency of evaluation of a parameter), is too low for such a device to work properly: Renoise meta devices evaluate the value of the parameters once per tick on rendering and once per row on play, so your built-in sidechainer would be extremely snappy.
I don’t think following the exact amplitude of a signal is important in either case. That’s kind of an unrealistic scenario for whatever application you’d want to use it anyway. An envelope follower device basically ALWAYS operates like a gate, with attack and release. You could even average out a set of samples and still be able to get very good results out of it. For sidechain compression though? Not so sure.
well I would use such a device for everything but a sidechain compressor, so I’m interested in such a tool for sure, but people nowadays seem to die for sidechaining (until the next new fashion will come out)…
So bassicly an envelope follower …
Would be great …
I made some patches om my nord modular with an envelope follower triggering filters and stuff …route some renoise channels trough it …YUMMIE 
lfos too?i dont get all what you say.
if params are rare precalculated , could be inertion. i believe sutch device , even not perfectly active, wouldbe better compared with not to be.
this has been implemented in Renoise 2.5 under the name of SignalFollower meta-device