What is the purpose of the “Menu – Alerts” item in the MoonBot terminal?

These are acoustic signals which are activated on the drawing lines on the chart and allow you to be alerted when the price crosses an alert line. That is, you can draw horizontal or inclined levels or other graphical elements on the chart with the CTRL button pressed, then right-click on this element and select Alert, after which the line will change its colour and become a signal line.
If the price crosses such a signal line, an audible signal is emitted, which will be played with a set duration and a set number of times.
To the right and above the name of the trading pair there is a button with the name of the coin on which Alert was triggered and if you click on it, it will open a chart of that coin and then you can make the necessary trading decision according to the situation.
The alerts allow you to set them up in advance on the coins you want, so you don’t have to look at the situation every minute to see whether the price has reached important levels or not, but only when MoonBot alerts you if these events occur.