This describes what I’ve arrived at after a few years of running the Minelab Equinox in fresh water. (B2 for salt).
Not a bad hunt with the EQ big coil today, one 10k 4,3 gr and one silver. While you can get away with “turn on and go” with the small coil–really getting the depth from the big one requires some careful signal balancing–and adjustment during the hunt if there are varied conditions. I ran 2 Tone, Park 2 (fresh water) Sens 22–down to 19 where there was black sand, F2 7 to break up the caps and alloys, speed 5 to 6, Horseshoe on (to search), very slow sweep. I really believe that this is the Minelab Equinox at its’ deepest although the speed could be slowed down in light (no black sand) conditions. Listen for peaked sounds that correspond with a narrow meter reading.  Watch to see what is the “central” or main number.  Some of these are “bad” such as “10”–with other diverse readings = a cap or “:13/14” = an oval tab. Expect deep signals to be broken. I also use the Horseshoe mode to check the consistency of targets–“ON” should stay mostly above zero. At this particular junk strewn site I work with a “Gold Box” (6-23) checker and use the Horseshoe to see how something stays within it with no dropping off either end.   I’m looking for how a target “grounds” and when I see a “wild” below zero number or say a “34” jumping in–I know that it’s something either too big or too magnetic to be gold. That and the cross sweep tell you a lot about the consistency.  The idea is to use the Equinox’s features to look for good, “clean” (metal) solid conductors in the below “23” range.  I acquire “wide open” but dig a narrow band of targets.
A big plus of this detector is that it lets you bring in the added “screen” of a high F2 Bias setting to knock out caps and other low grade metals such as tin or even aluminum slag.

Not a bad hunt with the Equinox big coil. One 10k 4.3 gr. one silver.