I have been using this setting with the 4 tone option and in areas where there is a lot of iron oxide in the form of a red pebble(sticks to a magnet) and also littered with decaying bits of iron and that red pebble decaying. The E-trac does see through this stuff and seems to NOT be affected by it. Whenever it goes over solid iron it will indicate the lowest tone and it seems not to false on deep buried iron to the point that you could be led to believe that the high tone might be a non ferrous target like silver.
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Wasn't that hard to figure out it what was going to be the best...for me at least. I'm sure that most will get the hang of the E-trac as they start venturing along with the it.
The first thing I did, without hesitation last week when I got the E-trac, is to use the 4 tones instead of Multi tones and rely on the rock solid digital indications and the relevant placement of the curser/crosshair.
I also found that if your not interested in looking at the number readout , that a very tight Quickmask screen is a pretty good for "cherry picking" silver and copper coins in my part of the world anyway.
http://www.findmall.com/read.php?19,800329,800631#msg-800631
"Hang on.....If you put the E-trac in Tone ID.. Sounds Ferrous and reduce No. of Tones to 4 rather than Multi tones in a wide open Quickmask screen , I think you'll find what you're looking for using Sounds Ferrous including a variation of Ferrous digital number values. It seems to be working for me.
Higher tones for more conductive non ferrous objects. Low tones for iron.

Welcome back Explorer style All Metal detecting in the E-trac
In QuickMask the default setting for Ferrous (FE) is