It's very similar to Modulate. You're just doing it impromptu and, if I may be blunt, it doesn't look nearly as good.
You mention you just came up with this and are trying to figure out if it's good to develop ... you can't decide that by committee. You have to decide if you like it. If you do, develop it. Who cares if you accidentally reinvented someone else's work or if you end up spinning your wheels a bit. If it gets you excited for now, work on it.
Now, if you decide to publish that's where it matters if someone else has done it. This is not original or unique enough to publish on its own. But it could well be a fun little trick you do for years.