Create/Set Stop Loss at trigger price

I guess this could be called a delayed Stop Loss creation or simply another SL Protection option.
What it is suppose to do is, after the bot received a signal and opend a trade, to wait for the price to reach a specfied percentage and than create a fixed SL at a certain percentage or distance.
Something similiar is already there with the "Follow Pirce" protection method where you have a Trigger Price and a Distance. So basically the same thing but without the trailing.

When you have a spimple Risk/Reward strategy where you take losses into account, it can work quite well with Base Signals, if you wait for the initial drop to go back up and than set your stop loss at a fixed point.