"variable does not name a type

Hey guys I'm getting an error that is im pretty sure to do with how i am initializing my variables. It is: exit status 1 'threshold' does not name a type

Here's my code:

//Global Variables for moving max:

int analogValues[100];
int ir=0;
int maxA0=0;
int threshold = 0;
//Global variables for moving max ^^

//Global Variables for moving average ECG:
const int no_averages = 2; 

unsigned long time = 0, peak1 = 0, peak2 = 0;
int binaryrange, bpm, i=0; //not sure what i does tbh
int readings[no_averages]; // the readings from the analog input
int readIndex = 0; // the index of the current reading
int total = 0; // the running total
int average = 0; // the average which we will display as ECG


void setup() {
// initialize serial communication with computer:
Serial.begin(115200);
// initialize all the readings to 0:
for (int thisReading = 0; thisReading < no_averages; thisReading++) {
readings[thisReading] = 0;
}

//set moving max shit to zero
  for (int is = 0; is < 100; is++) {
analogValues[is]=0;
  }
}

void loop() {
  //int maxA0=0; //Whether I intitate the variables here or globally, same error
  //int threshold = 0;
time = millis();

average=0;
readings[readIndex] = analogRead(A0);
readIndex++;
for (int ir=0; ir < no_averages; ir++) {
  average = average + readings[ir];
}
if (readIndex >= no_averages) {    // ...wrap around to the beginning of array if it has hit the end:
readIndex = 0;
}
average = average/no_averages;
if (average>1000) {
  average = 600;
}
Serial.print(average);

analogValues[ir]=average;
ir++;
if (ir>=100) {
  ir=0; } //This is to roll back to the start of the array if it surpasses the 100th array spot
for (int is = 0; is < 100; is++) {
 if (analogValues[is]>analogValues[is-1])
 analogValues[is]=maxA0;
  }
}

//**************************

//This line with error:

threshold=maxA0-40;

//**************************

if (average<threshold){
  binaryrange=0; }
if (average>threshold && binaryrange==0){
  peak1=peak2;
  peak2=time;
  bpm=60000/(peak2-peak1);
  binaryrange=1;
  } 
   Serial.print(" ");
  Serial.println(bpm);
//BPM code ^^


delay(8); // delay in between reads for stability
i++; 
}

THANKS!