Max for Live *tape — Tape Loop Emulator
*tape is a polyphonic tape emulator.
The pitch of the loop corresponds to the played midi note (C4= original pitch) and will also refer to the speed parameter as would be the case with a tape machine.
Furthermore the pitch can be also influenced independently from speed as well as the frequency of the processed audio signal can be additionally manipulated.
Clicking and dragging with the mouse inside the display window causes zooming in and out to select different parts of the loaded sample to be played back.
Further documentation can be found in the Max for Live device if Ableton Live´s Help View is turned on.