The Procedural Effects texture node provides numerous procedural texture types typically used to construct effects-based materials (figure 1).
Figure 1: The Procedural Effects node and it's associated parameters
Type - Determines the effect type to be used.
Time - The animation time stamp used to pan the textures across a surface.
UVW Transform - Positions, scales, and rotates the surface texture.
Projection - Sets how the texture projects onto the surface.