I noticed this setting isn't available on AC chipsets, however it is present on N chipsets (atheros AR9342); don't know if winbox just "filters out" AC chipsets, or in fact any AR N chipset could be considered "AR5211 based".
Just tested this on a temporary RB912-5HPnD PTP link with borderline values. Whether this actually made a difference in the (AR9342) card operating parameters, or just altered calculated measurements, I don't know, though it "looks like".
If the threshold
value is
increased from the default setting (-110) to -105 we are "raising the bar", raising the threshold as ZeroByte pointed with the squelch analogy, thus effectively
decreasing the Dynamic Range the radio amplifier has to work with.
The perceived signal strength
decreases in the same dB, e.g. if -110 gets a -75dBm signal, -105 gets a -80dBm signal, thus signal
decreases, guess due to the amplifier changing its gain to achieve this.
However, although signal strength was lower, and Signal To Noise lowered too from 40's to 20's (expected, as it's almost a 6dB change), CCQ increased and stabilized from 75%-95%'s to steady 95%'s, whereas effective bandwidth just decreased slightly from about 22Mbps to 20Mbps TCP.
Decreasing the threshold
value (i.e. -110 to -120), i.e.
increasing the Dynamic Range, will in fact report higher signal strengths, and Signal to Noise, at the cost of higher interference pickup (higher gain) and worse CCQ, so this would only be useful (I guess) in absolutely clean spectrum environments to extract the last ounce of performance from the link.
So... the proof is in the puddle, IMHO a TCP bandwidth test has the last word, we're working with
disruptive technology chipsets here and should take measured SNR values (or any, for that matter) as a reference point only; as chechito pointed, accurate and reliable SNR measurement equipment cost several orders of magnitude more than any Atheros/Mikrotik based radio.
Definitely a word from Mikrotik would clear things out