My script

Key Enhancements:
Stop Loss and Take Profit:

We added inputs for Stop Loss and Take Profit percentages. You can modify these values as per your strategy. For example, if you set the Stop Loss to 1% and the Take Profit to 2%, the strategy will automatically place orders to close a position at those levels.
Exit Logic:

The strategy exits the long position either when the Change of Character occurs (bearish signal) or when the price hits the Stop Loss or Take Profit levels.
Plotting Levels:

We visually plot the Stop Loss and Take Profit levels on the chart to help you better understand where the strategy is placing these levels.
Strategy Performance:

By including exit conditions based on both Stop Loss and Take Profit, we can better assess the profitability of the strategy.
TradingView automatically calculates performance metrics such as Net Profit, Profit Factor, Win Rate, Drawdown, and others in the Strategy Tester panel.
How to Evaluate Profitability:
Apply the Script:

Copy the updated code into TradingView's Pine Script Editor and click Add to Chart.
View Performance Metrics:

After applying the strategy, click on the Strategy Tester tab below the chart.
In this tab, you will see various metrics such as Net Profit, Max Drawdown, Win Rate, Profit Factor, etc.
Optimize Parameters:

You can adjust the lookback, stopLossPct, and takeProfitPct parameters in the script to optimize the strategy for better profitability. You can use TradingView's built-in strategy optimization tools to backtest different combinations.
Interpret Results:

The Profit Factor measures how many dollars you earned for each dollar lost. A value greater than 1 indicates a profitable strategy.
The Win Rate indicates how often the strategy wins, while the Net Profit shows how much profit you made over the backtest period.
The Max Drawdown helps you understand the worst peak-to-trough loss during the backtest period.
Key Strategy Performance Metrics:
Net Profit: The total profit or loss generated by the strategy.
Profit Factor: The ratio of gross profit to gross loss. A profit factor above 1 indicates profitability.
Win Rate: The percentage of winning trades in the backtest.
Max Drawdown: The largest peak-to-trough loss, indicating the strategy's risk during a drawdown.
Example Adjustments:
You can fine-tune the strategy by adjusting parameters, such as:

Lookback Period: If the market is more volatile, you might reduce the lookback to identify structure changes more quickly.
Stop Loss/Take Profit: The Stop Loss and Take Profit levels can be adjusted based on your risk tolerance and market conditions.
Next Steps:
If you want to explore further, consider adding more advanced features, like:

Volume Analysis: Include volume to confirm the CoC (e.g., high volume on a reversal).
Time-of-day Filter: Trade only during certain hours when the market is more volatile.
Trend Confirmation: Use higher timeframe trend indicators to filter trades.
This enhanced version should give you a better understanding of the profitability and overall effectiveness of a Change of Character strategy based on Smart Money Concepts. Let me know if you'd like further refinements or help with interpreting the results!