Copy number variation (CNV) is a major type of genomic structural variations that play an important role in human disorders. Next generation sequencing (NGS) has fueled the advancement in algorithm design to detect CNVs at base-pair resolution. However, accurate detection of CNVs of low amplitudes remains a challenging task. This paper proposes a new computational method, CNV-LOF, to identify CNVs of full-range amplitudes from NGS data. CNV-LOF is distinctly different from traditional methods, which mainly consider aberrations from a global perspective and rely on some assumed distribution of NGS read depths. In contrast, CNV-LOF takes a local view on the read depths and assigns an outlier factor to each genome segment. With the outlier factor profile, CNV-LOF uses a boxplot procedure to declare CNVs without the reliance of any distribution assumptions. Simulation experiments indicate that CNV-LOF outperforms five existing methods with respect to F1-measure, sensitivity, and precision. CNV-LOF is further validated on real sequencing samples, yielding highly consistent results with peer methods. CNV-LOF is able to detect CNVs of low and moderate amplitudes where the other existing methods fail, and it is expected to become a routine approach for the discovery of novel CNVs on whole sequencing genome.