Trailing SL based on price

Is there a way to create a trailing SL based on price??

Sourab Sisodiya has a strategy =

  1. Enter ATM Straddle
  2. SL is 10% of premium sold (Exit both legs)
  3. Trailing is 10% decay of premium…
  4. Example: Sold Premium = 400, SL = 440; after sometime premium = 360; Revised SL = 396; again after sometime premium = 324; Revised SL = 356.4; and so on
    Every 10% drop in premium, new SL 10% of this premium…

Reply edited since suggested solution won’t work.

The only solution i have found is exit at 10% profit and reenter…now traded instrument will capture the new price…and SL will be 10% of this new premium sold.
But way too many trades…
Or I have to ask help for coding in python…

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So i was thinking if this will work like trailing stoploss for combined premium of straddle.
Only thing is i will have to make quite a few conditions, since every 15min candle will need one condition.


The 2nd one is better since copy paste will be easier…