The InterChart Tools vRenko 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 volume. Once a trading signal is generated by the Ict vRenko 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 Volume Bars at the bottom of the chart display a volume of 15000 based on a setting of a minimum of 3 ticks for an Up Bar and a volume of 10000 for a Down Bar, based on 2 ticks specified for a down bar. The spike to 20000 continued the up trend by enough shares to create a new bar.