This reddit thread
says the equalizer in v1.1.5 is to be found under Tools -> Settings -> DSP Manager -> Equalizer.

I just installed foobar from the play store and my version is 1.0.94. I don't understand why this is the latest one that comes from the play store given that reddit thread is talking about 1.1.5, and is already 2 months old?

Also, I used premium Poweramp until now as my main player but I can totally see foobar becoming my main. The main selling point of Poweramp is that beautifully crafted audio engine. And the ease of switching those equlizer presets.
Could foobar take note of this ease of use and the importance of the equalizer?