A magnetic field sensor includes a magnetic field sensing element configured to generate a magnetic field signal; a measured threshold module configured to generate a measured threshold signal in accordance with positive peaks and negative peaks of the magnetic field signal; a memory device coupled to receive and configured to store, at each one of a plurality of storage times, a respective value of the measured threshold signal; a threshold module coupled to receive from the memory device, at a calculation time, a stored value of the measured threshold signal and configured to generate a calculated threshold value; and a comparison circuit coupled to receive the calculated threshold value and to receive the magnetic field signal. The comparison circuit is configured to compare the calculated threshold value with the magnetic field signal to generate an output signal. A corresponding method is associated with the magnetic field sensor.