Value migration
Volume Profile Analysis glossary · Value Migration & Reference Levels
Definition
The day-over-day relationship of successive sessions' Value Areas (above value, below value, overlapping), revealing directional re-pricing trends.
Value migration in plain English
Each trading day has a "value area" — the price band where most of the day's business happened. Value migration just means comparing today's band to yesterday's: did it shift up, shift down, or mostly overlap? It's like tracking where a food truck parks each day — if it keeps moving a block north, the neighborhood's demand is clearly heading that way. A steady climb (or drop) in these bands day after day reveals the market slowly agreeing on higher (or lower) prices, which is what a real trend looks like underneath.
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