The most important controls are the speed and depth. You have to have those 2 controls cranked all the way up to 100% to get the effect. The other 2 controls are arbitrary; you'll have to experiment to see how they affect the sound, but if you've got speed and depth cranked right up, they should get you that ray-gun effect!
Good luck man! Let me know how it turns out!
Mike
Keep rockin!
Mike Olekshy
GT Guitar Coach