How to place SL order immediately after entry with Trigger price

Strategy
#21

So when we put this in under Formula builder in entry condition - it will trigger stop loss ?
if I put 0.98 - it will trigger sl at traded price x 0.98 correct? ( asking about long position)

SL formula builder
SL formula builder948×504 9.92 KB

is my formula added to entry position builder is correct?