Stop loss is a thing that investment banks etc have implemented you shoul have. The are two reasons for that.
1. So that they can use their algorithme computers to press you out.
2. So you must sell and buy more often and pay more fees.
Do you think warren buffet have stop losses.
Do you think he would have been so rich wih stop loss on Amex-coca cola-etc etc..
By a bit of a company and hold it until it have reach your target price thrn sell or buy moore
I am not sure how Buffet trades, but I do know if he had a stop loss, it would be a target of your "hypothetical algorythm" My position would not be.
In addition, do you believe all the brokerages allow all their trading positions including where stop losses are set to be compiled? Because it would take a concerted effort to cooperate for this to work.