An ultrasound imaging system comprising: a transducer; a scanner, operatively connected to the transducer, for converting a plurality of analog signals from the transducer to a plurality of digital signals; a signal processing unit, operatively connected to the scanner, the signal processing unit configured to: receive the plurality of digital signals, the plurality of digital signals being correlated to a magnitude of a pixel; determine a first magnitude estimate of the plurality of digital signals, the first magnitude estimate being indicative of a standard magnitude estimate; determine a second magnitude estimate by subtracting a standard deviation of noise from the first magnitude estimate; determine a third magnitude estimate by multiplying the first magnitude estimate and a probability that an actual magnitude of the plurality of digital signals is greater than 0; determine a fourth magnitude estimate by averaging the second magnitude estimate and the third magnitude estimate; compare error rates for true magnitude values in determining the second, third, and fourth magnitude estimates to select a reliable magnitude estimate; and form at least one portion of an image based upon the reliable magnitude estimate thereby providing an enhanced contrast resolution of the image compared to an image created by the first magnitude estimate; and a display unit, connected to the signal processing unit, showing the image; wherein the first magnitude estimate of the plurality of digital signals is generated using a formula: v ^ = 1 N ∑ i v i wherein, v̂ = the first magnitude estimate, N = a number of samples, and v i = the i th input magnitude; the second magnitude estimate is generated using a formula: v ^ = Real 1 N ∑ i v i 2 − 2 σ 2 wherein, v̂ = the second magnitude estimate, N = a number of samples, v i = an i th input magnitude, and σ = a standard deviation of noise in Gaussian distribution; the third magnitude estimate is generated using either one of a formula: v ^ = 1 N ∑ i v i 1 − e 1 N ∑ i − v i 2 2 σ 2 A or a quadrature specific formula: v ^ = Q 2 + I 2 1 − e ∑ i − Q i 2 + I i 2 2 σ 2 A wherein, v̂ = the third magnitude estimate, N = a number of samples, v i = an i th input magnitude, σ = a standard deviation of noise in Gaussian distribution, A = a constant for a filter aggressiveness, Q = quadrature components, and I = in phase components; and the probability is reduced to: p v > 0 | Q, I = 1 − ∏ i e − Q i 2 2 σ 2 A ∏ i e − I i 2 2 σ 2 A wherein, σ = a standard deviation of noise in Gaussian distribution, and A = a constant for a filter aggressiveness. a transducer; a scanner, operatively connected to the transducer, for converting a plurality of analog signals from the transducer to a plurality of digital signals; a signal processing unit, operatively connected to the scanner, the signal processing unit configured to: receive the plurality of digital signals, the plurality of digital signals being correlated to a magnitude of a pixel; determine a first magnitude estimate of the plurality of digital signals, the first magnitude estimate being indicative of a standard magnitude estimate; determine a second magnitude estimate by subtracting a standard deviation of noise from the first magnitude estimate; determine a third magnitude estimate by multiplying the first magnitude estimate and a probability that an actual magnitude of the plurality of digital signals is greater than 0; determine a fourth magnitude estimate by averaging the second magnitude estimate and the third magnitude estimate; compare error rates for true magnitude values in determining the second, third, and fourth magnitude estimates to select a reliable magnitude estimate; and form at least one portion of an image based upon the reliable magnitude estimate thereby providing an enhanced contrast resolution of the image compared to an image created by the first magnitude estimate; and receive the plurality of digital signals, the plurality of digital signals being correlated to a magnitude of a pixel; determine a first magnitude estimate of the plurality of digital signals, the first magnitude estimate being indicative of a standard magnitude estimate; determine a second magnitude estimate by subtracting a standard deviation of noise from the first magnitude estimate; determine a third magnitude estimate by multiplying the first magnitude estimate and a probability that an actual magnitude of the plurality of digital signals is greater than 0; determine a fourth magnitude estimate by averaging the second magnitude estimate and the third magnitude estimate; compare error rates for true magnitude values in determining the second, third, and fourth magnitude estimates to select a reliable magnitude estimate; and form at least one portion of an image based upon the reliable magnitude estimate thereby providing an enhanced contrast resolution of the image compared to an image created by the first magnitude estimate; and a display unit, connected to the signal processing unit, showing the image; v̂ = the first magnitude estimate, N = a number of samples, and v i = the i th input magnitude; v̂ = the second magnitude estimate, N = a number of samples, v i = an i th input magnitude, and σ = a standard deviation of noise in Gaussian distribution; v̂ = the third magnitude estimate, N = a number of samples, v i = an i th input magnitude, σ = a standard deviation of noise in Gaussian distribution, A = a constant for a filter aggressiveness, Q = quadrature components, and I = in phase components; and σ = a standard deviation of noise in Gaussian distribution, and A = a constant for a filter aggressiveness.