The peak detector's output exactly replicates its input as long as that input is increasing. When the input drops, the peak detector's output begins to drop. The Droop Time Constant parameter determines how quickly the peak detector's output drops off (larger the constant the slower the droop). This parameter must be greater than zero.
Half Wave or Full Wave
When set at Half Wave, the detector follows only positive peaks of the input. When set at Full Wave, the detector follows both the positive input peaks and the absolute value of the negative input peaks.
Reset Terminal
When the peak detector's reset terminal (bottom terminal) is high, the peak detector's output voltage drops to zero.