[sciurius]

Capo is often misunderstood as a form of transposition but it is fundamentally different. Probably because only fretted string instruments have capos.

For me (and I think the average guitar player) the most intuitive behaviour is

• In Settings > Text File Settings, check "Modulate Capo Down"
  
• Same, enable "Capo Display Settings"
  
• In "Text Display Settings" set the capo (this will be done automatically upon first import) and then click the eye to not apply the chord changes