Adding a second shutoff valve

[jjainseattle]

I've purchased a shut off valve that I would like to add to my existing plumbing - near the current shutoff valve...The second one is a "Smart" valve that automatically closes when the little puck dudes sense water in remote locations of the house (i.e. washing machine, under sink etc).

Photo of current setup is attached.

The current pipe and valve run vertical up the wall. Can I add an elbow, attach the valve and then form a rectangle back into the main run without sacrificing pressure and or flow?

I'm trying to add photos but the upload keeps failing