I'm not sure if I understand the concept correctly. Given an infinitesimal transformation
$$\phi \rightarrow \phi + \alpha \Delta\phi$$
the change in the Lagrangian density $\mathcal{L}(\phi,\partial_\mu \phi)$ is
$$\mathcal{L} \rightarrow \mathcal{L} + \alpha \Delta\mathcal{L}$$
For the transformation to be a symmetry, the new Lagrangian can differ only by a four-divergence so that
$$\Delta\mathcal{L} = \partial_\mu J^\mu$$
for some four-vector $J^\mu$.
Now, we have, using E.L. equations, the identity
$$\partial_\mu J^\mu = \partial_\mu\left( \frac{\partial \mathcal{L}}{\partial(\partial_\mu\phi)}\Delta\phi\right)$$
From which finally the "conserved current" is:
$$j^\mu \equiv J^\mu-\frac{\partial \mathcal{L}}{\partial(\partial_\mu\phi)}\Delta\phi$$
Anyway, I'm trying to do a calculation for a concrete example of the Lagrangian $\mathcal{L} = \frac{1}{2} \partial_\mu \phi \partial^\mu \phi$ and transformation $\phi \rightarrow \phi + \alpha$ for constant $\alpha$.
For this, $\Delta\mathcal{L} = 0 = \partial_\mu J^\mu$. Also $\Delta\phi = 1$. So
$$\frac{\partial \mathcal{L}}{\partial(\partial_\mu\phi)}\Delta\phi = \partial^\mu \phi$$
And
$$j^\mu = J^\mu - \partial^\mu \phi$$
Peskin & Schroeder say that the conserved current is just $j^\mu = \partial^\mu \phi$. I suppose this is because it's defined up to a 4-divergence. So in this case $J^\mu$ can be omitted and also the minus sign doesn't matter since it's defined up to a multiplicative constant as well.
Please correct my understanding of this. What I'm having most trouble understanding here is how the different objects are defined 'up to' something.