Go to the Automation section on your panel and select Alerts from the left menu. Here you will see an option to configure a new alert under the actions button.

Please fill in all the necessary details and provide the conditions to set the custom alert.
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Add the name of the alert alongside the members that you want to notify. You can include any other recipients if you wish to.
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From here, you can target advertisers, publishers, campaigns, and goals. You can also set the alert's lifespan from here. Add a lookback window duration to check the condition/report after the number of days specified here.​
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Add the frequency for sending the alerts to concerned POCs.
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Enter the condition here, and once it meets, an alert will be sent out. You can add multiple conditions as well. The threshold here will mean the maximum number/limit.
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In case you add multiple conditions, you can choose to add "At least one" in case you want an alert to be sent out in case any one of the conditions is met

You can view what your alert looks like and click on "Finish" to post it.
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So for instance, if I want an alert to be generated in case my cancelled conversions have crossed 50, specifically for 2 campaigns and I want this condition to be checked every 5 days and send an alert every 16 hours, you can set the same conditions in "Alert section."