Each complete barcode will contain distinct bars and spaces for each character as well as a start and stop bar, a checksum digit, and quiet zones on all sides of the barcode.
Each character is made up of 4 separate bars. Each bar can be in one of four "states", thus the name of the symbology. The four states are "tracker", "tracker, ascender", "tracker, descender", and "tracker, ascender, descender" and are illustrated in the diagram below.