A heart rate monitor generates an ST deviation time series by employing a recursive filter that is preferably an exponential average filter whose output is a weighted sum of the then existing ST time series value and current ST deviation values of analyzable beats. Beats are detected in segments of data. ST deviation is measured for analyzable beats. The ST deviation time series is updated only if certain criteria are met. A first criterion for updating the time series is that at least half of the beats within a segment must be normal sinus rhythm beats. A second criterion for updating the time series is that (i) the average RR interval of the segment is between ¾ and 1.5 times the average RR interval of the previous segment; or (ii) both (a) the number of abnormal beats in the current segment is less than 2, and (b) the number of premature ventricular contractions within the current segment is less than 2.