Is the comparison within a loop? If so, you can place a shift register to the loop. Right-click the edge of the loop and select "Add Shift Register".
Initialize the shift register with a boolean that set the alarnm LED off. Within the loop, place a Case Statement where you change the boolean value if the threshold is above the level. If the value drops, or never goes beyond the threshold, do not change the value. You can place a "reset button" within the Case Statement to clear the LED. I will prepare an example and post it in a moment... JLV.