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Thanks everyone this helps a lot, my research also showed some people use "keyframes" (?) to achieve this effect. Can anyone explain what that is? I am familiar with term from video encoding but not editing
The concept of a keyframe is the same as you're used to: it's a marker that tells the program to change something.
In this case, you would use a keyframe instead of a split. Suppose you have three cameras, and you want to cycle among them with a switch every five seconds. Also assume that the three cameras are on tracks 1, 2, and 3.
Place all three videos on the timeline in their respective tracks.Select the video on track 1 and click "Modify." In that window, you can set keyframes for the opacity of the clip. You want a keyframe at time 00:00:00, with the opacity at 100%. You want a keyframe at time 00:00:05 with the opacity at 0%. You want a keyframe at time 00:00:15 with the opacity at 100%. Repeat until done.Do the same thing with the other clips, adjusting the times to fit your cycle.
The result will be that you transition from one camera to another where you set the keyframes.
There is a big problem, though: PD will interpolate from keyframe to keyframe, so the opacity won't jump between 0% and 100%; the cross-fades will be very gradual. You can use additional keyframes to make them faster, but there will always be a cross-fade effect. If that isn't what you want, then you'll need the split technique.
Jerry Schwartz