A method for monitoring operation of an electric submersible pump. The method includes receiving data signals indicating values for a plurality of parameters regarding operation of the electric submersible pumping system; establishing, for at least some of the plurality of parameters, an associated reference signal; and detecting a deviation of one of the parameters from the reference signal associated with that parameter. As a result of the deviation having a rate of change below a predetermined threshold, the method includes updating the value of the reference signal to reflect the deviation. As a result of the deviation having a rate of change above the predetermined threshold, the method includes detecting an event and generating an indication of the event. The indication of the event further depends on a type of the parameter and a direction of the deviation from the reference signal.