The InterChart Tools mRenko bars are virtual bars that are able to generate trading signals and perform their calculations using the same methods as traditional Renko bars but instead of being created based on changes in price, they are calculated based on changes in price times volume. Once a trading signal is generated by the Ict mRenko bar, both the trade and fill are correctly displayed on the open of the next bar of the base chart. These virtual vRenko bars may be optimized.
The Ict mRenko Money Bars display values that take into account both price and volume. The Ict mRenko Volume indicator displays the volume for the mRenko Money Bar. The Ict mRenko Streak indicator counts the number of mRenko Money Bars that move in the same direction to capture trends.