Step Sequencer (F5) is the main window of FL Studio.

- Pattern Length (Nr. of Beats) - Sets the number of beats for the current pattern. If undefined: ‘–’, the global value of the (Project Settings)
- Repeat Step Sequencer - Causes the Step Sequencer to repeat. example: a 4-bar percussion step will repeat while a 16-bar Piano roll sequence plays, else it would stop after 4 bars.
- Pattern selector - Select and name patterns from this drop-down menu.
- Swing - Slide to the right to add ‘swing’ to within the Step Sequencer.
- (G) Graph Editor – Shows/hides the Graph Editor.
- (K) Keyboard Editor – Shows/hides the Keyboard Editor.
- Channels Area - Contains the Channels and pattern grid.
- Channel Display Filter (PageUp/PageDown) - Allows you to set the group of Channels to show in the Step Sequencer.
- Playing Step LEDs - These LEDs indicate the step in the pattern that is currently playing.
- Panning – Use to set the Channel panning.
- Volume – Use to adjust the Channel volume.
- Channel Settings Button – Displays the Instrument name and can open/close the Channel Settings window.
- Channel Selector
- Piano roll Preview
- Mute (0-9 to mute) / ([ctrl]+ 0-9 solo mute)
- Sequence Steps (16th note(s))

Two channels from the Step Sequencer.
long version: http://flstudio.image-line.com/help/html/stepsequencer.htm