One very cool thing about Live’s EQ is it’s Mid-Side mode:
This allows you to apply different EQ settings to the middle and the sides of a stereo signal. If you’re not familiar with Mid-Side, the concept is pretty simple. The Mid is the mono information in a signal – the stuff that’s identical in the left and right channels. The Side is the exact opposite – the stuff that’s only in either the left or right channel.
Once, you’ve selected this mode, you can create two different EQ curves. Switching between the middle and the sides is done with the Edit switch:
Mid-Side processing is often used in mastering, but there are some fun things you can do when mixing as well. For example, let’s say you’ve got a big stereo synth pad. To exaggerate the stereo width, try a little high boost to add some sparkle to the sides only: