I'm no expert, but here's my two cents:
First of all, when in pinpoint, yes the detector is sensitive to all metals, but when used to actually pinpoint a target, the pinpoint mode "masks" the response you get from the target by
lowering the sensitivity as you sweep the coil back and forth.
Personally, I would worry that actually searching in pinpoint would adversely affect sensitivity.
[size=large]Sensible comment Greg; bercause, if you have auto-track ON, it may slowly 'track-out' that item you're working on ?.....matt[/size]
Secondly, the "horseshoe" button will effectively set the detector in a mode to detect all metals. When you activate it, nothing is discriminated out.
That's what I would do if I wanted to detect in AM, and that's mostly what I do, but in conjunction with multi-tones. As a relic hunter, I want to know if there's a lot of iron in the ground, as Civil War campsites often contain more small iron in the form of nails, than good targets.
Hunting in AM with multi-tones (usually 50 tones), I get to hear the low "whump-whump" of small iron, intermixed with higher pitch (and Target ID numbered) poExentially non-ferrous targets in the form of bullets, buttons, etc..
Detecting in AM with multi-tones also benefits when scouting for a new site; the sound of small iron is often the first hint you get that you're in, or near the site.
Again, I'm no expert, and am largely a lost ball in the high weeds when it comes to the intricacies of the Equinox. I know it is capable of far more than I understand, at least at my level of understanding.
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Excellent...Exellent...Excellent...post Greg.......matt
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Anyway, hope this helps.