Alfvén waves play an important role in the stability, heating, and transport of magnetized plasmas. They are found to be ubiquitous in solar winds (SW), which mainly propagate outward from the Sun, especially in high-speed streams that originate from coronal holes. When high-speed streams impinge on the Earth’s magnetosphere, the impact of Alfvénic fluctuations can cause magnetic reconnections between the intermittent southward Interplanetary Magnetic Field (IMF) and the geomagnetic field, resulting in energy injection from the SW into the Earth’s magnetosphere. In this work, we tested a rotation procedure from the Heliocentric Earth Ecliptic (HEE) to the Mean ElectroMagnetic Fields Aligned (MEMFA) reference frame. This is achieved by means of the Empirical Mode Decomposition (EMD) method for both the SW velocity and IMF at 1 AU. Our aim is to check the reliability of the method and its limitations in identifying Alfvénic fluctuations through the spectral analysis of time series in the MEMFA coordinate system. With this procedure, we studied the fluctuations in the main-field-aligned direction and those in the orthogonal plane to the main field. To highlight the peculiarities of each case of study and be able to better identify Alfvén waves when applying this procedure to real data, we reproduced the magnetic and velocity fields of a typical corotating high-speed stream. We tested the procedure in several cases by varying the amplitude of Alfvén waves and noise. We performed the spectral analysis of the Mean Field Aligned (MFA) component of both the magnetic and velocity fields to define the power related to the two main directions: the one aligned to the ambient magnetic field and the one orthogonal to it. The efficiency of the procedure and the results’ reliability are supported by Monte Carlo (MC) tests. The method is also applied to a real case that is represented by a selected corotating SW stream that occurred during August 2008, which fell in the solar minimum of solar cycle 23. The results are also compared with those obtained by using Elsässer variables to analyze the Alfvénicity of fluctuations via the normalized cross helicity and the normalized residual energy.