Magnetometer readings on RPi and HA (MAG3110 or similar)

Hey guys,
I am thinking of a project that would help me monitor my house’s water consumption in a non-intrusive set up.

After seeing how this guy did it, i am thinking of using this chip, connected to my RPi like this guy explains and measuring the pulses while translating them to liters/gallons via a template sensor (?).

I am guessing i would need some way to figure out peaks in the readings and not the actual measurements?

Has any1 done anything similar?
Or any thoughts as to if it’s possible?