Excess high / Excess low
Volume Profile Analysis glossary · Auction Theory & Market Profile (TPO)
Definition
A clean session extreme formed by spike-and-reverse with single prints; indicates the auction completed properly at that price.
Excess high / Excess low in plain English
An excess high (or excess low) is the specific version of that clean rejection mark at the top or bottom of a session. Price spikes up to a level, is instantly rejected, and reverses, leaving only thin 'single prints' at the very extreme — proof that almost no one wanted to do business there. Like a diver hitting the water and immediately bouncing back up rather than sinking and hanging around, this fast spike-and-reverse says the market clearly rejected that price. It tells you the auction completed properly at that extreme, so that high or low is more likely to hold as a genuine boundary.
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