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In this paper, we investigated the planar dynamical system and new traveling wave solution of the stochastic Biswas-Milovic equation (BME) with dual-power law nonlinearity and multiplicative white noise in the Itô sense. First, the stochastic BME with dual-power law nonlinearity and multiplicative white noise in the Itô sense was transformed into a nonlinear ordinary differential equation (NLODE) through traveling wave transformation. Second, the dynamical bifurcation conditions and phase diagrams of the equation considered were obtained through the method of planar dynamical systems, and the phase portrait of the dynamical system was given. Moreover, taking into account the periodic disturbances in real-world environments, we extended our analysis to explore the effects of disturbance terms. Meanwhile, two-dimensional (2D) and three-dimensional (3D) phase portraits, sensitivity analyses, and the Poincaré section of its perturbed system were plotted through Maple software. Finally, the new traveling wave solutions of the stochastic BME with dual-power law nonlinearity and multiplicative white noise in the Itô sense were constructed by using the complete discrimination system method.
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