One example includes a system that is comprised of an equalizer, a counter, and a controller. The equalizer equalizes an incoming signal and provide an equalized output signal over a plurality of time intervals according to a given equalizer setting thereof. The counter provides a count value to represent to a number of times that the equalized output signal crosses each of a plurality of thresholds over the plurality of time intervals. The controller evaluates the count value for each of the plurality of thresholds at each of a plurality of equalizer settings and configures the equalizer setting based on the evaluation of the count values for each of the equalizer settings.