The cordelette (a continuous loop of 7mm nylon cord) continues to be one of the very best tools for building full-strength, redundant anchors. The vast majority of the anchors that I build use the so-called cordelette method, whether they are 2-point anchors or 5-point anchors.
One of the challenges with a cordellete is that its length (usually about 8-10 feet once tied into a loop) can prove to be limiting. A cool trick that I learned not long ago is to use knots to effectively lengthen the cordelette. Study this diagram to see what I mean:
