StopLoss On candle Close#115

For my strategy, it should be great to have the possibility to set StopLoss on Candle Close for a choosed Timeframe.
Right now I am trying to avoid this with StopLoss Timeout, it’s not perfect but can do the Job, the issue is, the channel report Bot, don’t consider StopLoss timeout so All signals/Report on Bot channel are Wrong.

Regards.

I agree. I need this feature as well.

Description: In volatile and manipulated markets, stop loss orders are often targeted, triggering exits prematurely before the price reverses in the intended direction. To mitigate this, it would be helpful to have the ability to trigger stop loss orders only if the close price is above or below the defined stop loss level, rather than being triggered by intraday volatility.

Problem: Traditional stop losses can be easily targeted, resulting in unnecessary losses as the price often reverses shortly after hitting the stop loss level. This manipulation leads to missed opportunities when a price spike briefly hits the stop loss and then reverses in favor of the position. While this proposed method carries more risk, as the close price could be far beyond the stop loss level, it can provide a significant advantage in certain strategies by avoiding premature exits.

Proposed Solution:

Introduce a “Stop Loss on Close Price” feature, which would only trigger a stop loss if the price closes (on a chosen timeframe, such as 4H or 1D) above or below the stop loss level.
Allow users to select the timeframe for the stop loss trigger (e.g., 4H, 1D, etc.), so positions will only be closed if the candle closes above/below the stop loss price on that timeframe.
This would be a riskier option, as the closing price could exceed the stop loss level, leading to a larger loss. However, with a solid strategy, this type of stop loss could be a powerful tool to avoid unnecessary exits and capitalize on market reversals.
Benefits:

Helps avoid being targeted by stop hunts and manipulative price moves, especially in highly volatile markets.
Offers traders more control over their stop loss strategy, allowing them to stay in trades and potentially benefit from price reversals.
Enhances flexibility by allowing stop loss orders to be tied to specific timeframes, improving overall risk management with certain strategies.
Thank you for considering this feature to improve stop loss functionality.

same here, i want to use stops based on a candle close below xxx on xx timeframe