I have discovered from experience that the compressor that comes with Audacity leaves much to be desired. So I searched high and low for a good replacement. The best, and most popular, is called "Chris's Dynamic Compressor" and can be downloaded Here.
To learn how to add VST effects into Audacity, check out my other post Here.
And here are the settings that I often use:
Settings Option 1
Compress ratio: .8
Comp Hardness: .35
Noise gate falloff: 2.0
Max amplitude: .85 (depending on the file, sometimes .70)
Settings Option 2
Compress Ratio: 0.85
Compression Hardness: 0.5
Noise Gate Falloff: 2
Maximum Amplitude: 0.95 (or 0.85)
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