Electrocardiogram (ECG) is an economic, non-invasive, and convenient tool in arrhythmia detection, whose ECG indicator is mainly exhibited by T-wave Alternans (TWA). In this paper TWA was used to analyze myocardial ischemial (MI) both in time and frequency domain. The characteristic in frequency domain was mainly T-wave alternans ratio, whose extracted feature parameters included TWAR_Tp, TWAR_Tb, TWAR_Te, TWAR_MIN, TWAR_MEAN, and TWAR_RESAMP. Meanwhile, the characteristic (TWA magnitude) in time domain was analyzed based on correlation analysis, whose extracted feature parameter was mainly ACM. A significant difference was reached based on ACM analysis after European ST-T database (namely, MI database) and Normal ECG database verification. On the other hand, a significant difference based on ACM was also reached after MIT-BIH database (namely, Arrhythmia database), what's more, it was more distinguished than the one in MI analysis. Experimental results showed that the TWA features played a useful role both in myocardial ischemia and arrhythmia detection.