This option limits both the auto-generated axis tic labels and the corresponding plot border to the range of values actually present in the data that has been plotted. Note that this is independent of the current range limits for the plot. For example, suppose that the data in "file.dat" all lies in the range 2 < y < 4. Then the following commands will create a plot for which the left-hand plot border (y axis) is drawn for only this portion of the total y range, and only the axis tics in this region are generated. I.e., the plot will be scaled to the full range on y, but there will be a gap between 0 and 2 on the left border and another gap between 4 and 10. This style is sometimes refered to as a `range-frame` graph.
set border 3
set yrange [0:10]
set ytics nomirror rangelimited
plot "file.dat"