Thanks everyone!
I'd been puzzling yesterday, and before I saw these replies I found a solution myself:
I made a button which toggles a variable on or off (coincidentally, sort of what @hello suggested). If the variable toggles on, it also activates this macro:
I had tried this method before, but that didn't work because instead of using a pause, I engrouped the click and hold in an 'until' group, which activates the click over and over, whilst the pause makes it so that it only clicks once.
The click also holds down, so if I were to move my mouse it would drag the dial it clicked on.
Then, I made a simple macro which moves my mouse left and one that moves it right, when I turn a knob:
The knob is set to relative, like @D-One suggested
(You can also make it move up and down, for other usecases)
Now to improve this macro I'd like to activate the toggle, move and click when I turn my knob, instead of having to push a button first. (I will have to create a button to toggle the variable off though, since KM can't know when I feel like I finished adjusting). I'll take a look if @hello 's and @D-One 's suggestions help with this.
Thanks everyone for your help! I guess I'll post another reply if I do manage to improve it.