We need to see at least your complete formula to answer this question.
In general you should consider using some built-in function and avoid the while loop. For instance in this case your formula could look something like this:
dim LowBound = 123
dim ConstValue = 1.329
dim NewY = Signal.Y
NewY[ValuesAboveLevel(Signal, LowBound, EVENT_INDEX + EVENT_COMPLEMENT)] = ConstValue
Signal(NewY, Signal.X)
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