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By default, that alert will look back at the last 10 minutes for the SQL in question. If the avg wait time per execution is greater than X seconds (as defined in thresholds), it will alert you.
You can't go less than 10 minutes as we only grab stats every 10 minutes (so we won't know execution counts to any more granularity than 10 minute intervals).
If the avg is 5ms for your query, I don't know of a way to make the alerting sensitive enough to trigger as the values for thresholds have to be integers.