Dynamic Planning places a trade’s orders on the chart before you execute it. Drag them to the exact support and resistance levels you want, check the risk and reward, then execute. No more entering first and adjusting the profit target and stop-loss afterward.
Buttons
| Button | What it does |
|---|---|
| Plan Long / Plan Short | Starts planning a long or short trade: translucent order flags appear on the chart, placed by your order sets. Click a flag to move it. See below. |
| Scale to Fit | On: changes the order set’s number of contracts to fit Risk Per Trade, within the limits in Order Management Options. Off: the number of contracts stays as it is. To go back to the original number, click Plan Long or Plan Short to stop planning, then click it again. |
| Track Price | Off: the planned orders stay put, so the risk and reward change as the market moves. On: the orders move with the market price, keeping the same distances from the entry, so the risk and reward stay fixed. This overrides each order’s Initial Placement. See below. |
| Execute | Places the planned orders live. |
| Chart Scaling | On: squeezes the chart’s price scale so all planned orders are visible. Off: BlackBird leaves the scale alone, so orders can be off screen. |
| Scale In | After the first trade is executed, Plan Long / Plan Short become Scale In Long / Short buttons. Click one to plan more contracts: move the new entry, profit target and stop-loss, then click Execute. The − and + buttons set how many contracts. |
Planned order flags
Only limit and stop entries have a flag; a market entry has nothing to plan. Dragging a limit entry to the other side of the market turns it into a stop entry, and the other way around. The type is on the left of the flag in [CAPITALS]; the order’s name is on the right. A flag in an invalid place shows [Invalid].
Dynamic and absolute profit targets and stop-losses
Dynamic (the default): the profit target and stop-loss move with the entry when you move it, keeping their distance, unless they are placed at an indicator value.
Absolute: once you move a profit target or stop-loss yourself, it stays at that price wherever the entry goes.
Track Price with an indicator stop-loss
With Track Price on, a stop-loss placed at an indicator (for example, SuperTrend) doesn’t follow the indicator while you plan. BlackBird takes the distance between the entry and the stop-loss when tracking starts, and keeps that distance as the market moves.
Trailing rules stay active, so once the indicator or price moves far enough, the stop-loss starts trailing.
Videos
An overview of Dynamic Planning.
The improvements in the June 20, 2017 update.