Stored Variables

Let's suppose I only want to trade once the S&P makes a 100 day low, and continue to trade until it makes a 100 day high, at which point I no longer make new trades and wait for another 100 day low.

Ideally I could create a variable named OkToTrade and set it to true or false.

Indeed you could. The formula would be HighValBar(100,0,#SP500) > LowValBar(100,0,#SP500).