The most important factor that’ll affect what a volume pedal does in your rig is where you place it in your signal chain.
The most commonly used signal chain will look something like this:
Guitar -> tuner -> wah/filters-> compressor -> fuzz -> overdrive/distortion -> pitch-shifting -> modulation -> delay -> reverb -> Amp
The volume pedal can be put into 3 common spots:
Beginning – A volume pedal at the beginning of your signal chain will act like the volume pot on your guitar. It’ll clean up your signal if you’re running into a distorted amp or even if you’re running it before any drive pedals. That signal will be cleaned up and you’ll end up with less grit and gain.
Middle – One of the most common places to put a volume pedal is in the middle of your signal chain; after your overdrive, distortion and boost and before modulations and reverbs.
This is the best way to ensure you keep the same amount of drive on your signal and simply turn that up and down and retain the trails from your reverb and delay. Most songs you play will require the trails to continue which is why this is the most obvious spot to have your volume control.
End – Having the volume pedal at the end of your chain – i.e. After delays and reverbs, will mean that the pedal acts as a master volume control. This will mean that any delay or reverb trails (the repeats or sound when you’ve stopped playing) will be stopped dead when you use the volume control. This is the best way to end a song abruptly or to have total control over your signal.
This way you can also bring down the overall volume without affecting how much gain you have.