I have seen a lot of complicated tasker tutorials for password setting depending on if you are connected or disconnected to your smartwatch. I just found out that Trigger and their lockscreen plugin (both free) do this well.
- Enable device admin for the Lockscreen plugin
- Open Trigger, swipe left side and tap plugins, tap lockscreen, and then set your pin or password.
- Go back to main Trigger screen and tap + at the top, tap + again.
- Click Bluetooth, when connected to: Moto 360 should show at the bottom, tap it, then next, then done.
- Tap next, then +, scroll to Experimental, tap Lockscreen then next, disable, add task.
- Rename to NoLock, click done.
For the ReLock action, start at step 3 and do the same but select “When disconnected from” in step 4, and then select “Enable” in step 5.
Optional: Go to settings, notifications, and turn them to none or toast.