I have got > 100 river daily flow time series and I need to select a threshold for each of them in order to perform a Peak Over Threshold extreme value analysis.
I know that I can select a threshold manually with specific R packages but I would like to know if there exists an automatic method which will calculate for me the most suitable threshold for each of the 100 time series.
e.g. I could set up a 90% threshold based on the max daily flow value but it could be a very extreme one and therefore I will miss all the other ones.
Any suggestion?
Thanks