The InterChart Tools Renko bars are virtual bars that are able to generate trading signals and perform their calculations using the same methods as traditional Renko bars. Once a trading signal is generated by the Ict Renko bar, both the trade and fill are correctly displayed on the open of the next bar of the base chart. These virtual Renko bars may be optimized.
The virtual Ict High and Low Renko Bars are displayed as pink and yellow squares respectively on the first subgraph of a 0.25 range bar chart. While there is not a Renko bar for each range bar, you may still create indicators and trading strategies using the Renko bars. Once a trading signal is generated by the Renko bar, both the trade and fill are correctly displayed on the open of the next bar of the base chart.
One advantage of virtual Renko bars over traditional Renko bars is that that the virtual bars may be optimized to account for uneven up versus down price movements.