Unraid IS NOT RAID.
Each disk is an independent filesystem. Each disk can be read independently on any linux. Each file exists completely on a single disk. Folders can span disks, this is called User Shares.
Reads from the parity array is at the speed of the single disk which contains the file. Writes to the parity array are somewhat slower due to realtime parity updates.
Unraid is not as fast as RAID, but it has other benefits. Since each disk is an independent filesystem
if you lose more than parity can recover, you haven't lost everything because all good disks still have their complete data
you can use different sized disks in the parity array
you can easily add more disks to the array without rebuilding the whole array
you can easily replace disks with larger disks
As mentioned, highwater allocation is the default, and for good reason. It is a compromise between using all disks eventually without constantly switching between disks just because one disk temporarily has more free space.
Unraid does not automatically move files between array disks, so files already written do not get spread around. When allocation method says disk1 is done, it will begin writing new files to another.
Since all your disks are 12TB highwater is easy to figure out, it is half that or 6TB. When 6TB have been written to disk1, the next disk in line will be chosen until it has reached highwater, etc.