Acceptance sampling stands out as one of the earliest and most prominent statistical quality assurance methods. It ensures the quality level of a lot of products through a small sample evaluation of the entire lot. The determination of whether to accept or reject the lot relies on acceptance criteria, which are the specifications applied in any acceptance sampling plan. This study develops a new two-sided chain sampling plan (NTSChSP-1), designed to achieve a balance between the previously established two-sided complete chain sampling plan (TSCChSP-1), known for being overly lenient towards producers, and the two-sided chain sampling plan (TSChSP-1), regarded as too strict in favor of consumers. TSCChSP-1 and TSChSP-1 were developed with five and three acceptance criteria, respectively, whereas NTSChSP-1 implements a more moderate approach with four acceptance criteria. In this study, NTSChSP-1 is developed for generalized exponential (GE) distribution throughout a truncated life test by applying the minimum angle method (MAM). This technique aims to minimize both the producer’s risk and consumer’s risk by designing the minimal angle that closely aligns with the ideal operating characteristic (OC) curve. The minimal angle is obtained by utilizing the tangent function across various levels of percent defective. The performance parameters of the developed plan are the optimal number of sample size, and the corresponding minimal angle based on pre-specified levels of design parameters such as number of preceding lots and mean ratio. The findings reveal that the optimal number of sample size and the corresponding minimal angle for NTSChSP-1 are lower than those for TSCChSP-1.