How to create Alert Queue Thresholds

Head over to Alerts > Workflows.
Open the Queues tab:

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I can't see the Queues tab!
If you cannot see the queues tab, you do not have the necessary permissions.

Here you will see a list of all the alert queues that currently exist.

Select the ... menu to edit a queue:

Edit the Alert count threshold section:

If a queue has fewer alerts than the minimum, it will appear in YELLOW.
If a queue has a number of alerts between the minimum and maximum, it will appear in ORANGE.
If a queue has more alerts than the maximum, it will appear in RED.