Let’s define a colorbar

Clear["Global`*"];  colorbar[{min_, max_}, colorFunction_: Automatic, divs_: 150] :=  DensityPlot[y, {x, 0, 0.1}, {y, min, max}, AspectRatio -> 10,  PlotRangePadding -> 0, PlotPoints -> {2, divs}, MaxRecursion -> 0,  Frame -> True, FrameLabel -> {{"C", None}, {None, None}},  FrameStyle -> Thick, RotateLabel -> False,  LabelStyle -> Directive[FontFamily -> "Helvetica", 20],  FrameTicks -> {{None, ticks[min, max]}, {None, None}},  FrameTicksStyle -> Directive[FontFamily -> "Helvetica", 20, Plain], ColorFunction -> colorFunction]; 

where

ticks[min_, max_] := Module[{positions = Range[min, max, (max - min)/5],  precision = Length[NestWhileList[10 # &, max/5, Floor@# != # &]] - 1,labels}, If[precision > 0,  labels = ToString /@ (NumberForm[#, {Infinity, precision}] & /@ positions)]; If[precision == 0, labels = ToString /@ Floor[positions]]; Transpose[{positions, labels}]]  valrange = {0.134512, 10.623245}; Show[colorbar[valrange, "Rainbow"]] 

I want the following:

How can we modify the module ticks, so as to be able to control the number of decimal digits? For example the limits in valrange have 6 decimal digits, however we may want only 2.

Any suggestions?