Look at top side of the forum > click game > click tools > download d2stats. d2stats has a loot notifier which shows the item you wanted to get notified in the top left corner. You can customize it as well. But when you get notified, you still have to press alt to pick up loot. But you wouldnt use alt otherwise, so saved you some time. You can also filter the garbage on the floor so it doesnt show it when you press alt.