I am recording at 24 bit 44.1 sample rate and will be exporting the project as 16 bit 44.1 sample rate wav. file.

Question is: What is the recommended settings to use for dithering? Right now it is at triangular at default.

Thanks!

It doesn't matter too much, it is just what type of noise you want to add to your signal.  Flat Triangular works just fine.  For quieter, more sensitive music, some people think a shaped curve like POW-r 3 works better.  Only a small fraction of 1% of people will hear any difference even with this music. 

I didn't really care about the dithering option until it was brought up to me that it was really important to play on commercial CD players. So I wanted to make sure I do the right thing with my projects before mastering or burning.

sharpdion23

So I wanted to make sure I do the right thing with my projects before mastering or burning. 

Do not dither.  Before you master.   Dither is the last thing.   After you render your mix.  When you convert the mix from a high bit wave, to a low bit one..  Ergo from 24 --- > 16.   

Render @ 24 bit.  Master @ 24 bit.   Than dither, whilst converting from 24 to 16 bit.  And I suggest using, "Pow r1."  or "Pow r2."  or "Pow r3."  or "Triangular."

Cheers

Thanks for the advice. I guess I'll go with the default triangular setting.

There is actually no problem with dithering on a 24 bit export.  The dither level depends on the bit depth.  At 24 bits the noise level will be so insignificant you can do it 100 times over and still not have it register.  But yes, on a 16 bit final export, make sure you dither only once, or that you are not adding more than one layer of it (such as using a limiter with built in dither like Waves L1+, PSP Xenon, or Izotope Ozone and using a dither option on export).  I prefer a limiter's dither because it allows you to audition the sound before you commit to it.