Tether depeg duration

Question

Context

On May 12th, Tether ($USDT) significantly departed from it's peg of $1.

Indicator

I'd like to have an indicator which shows the number of continuous hours that Tether has been depegged.

We'll define depegged a candle where the high is less than 1.

Script

Here's a version of the script that appears to work:

indicator("Tether depeg hours", overlay = true)

n = ta.barssince(high[1] >= 1)

hours = math.round(timeframe.in_seconds() * n / 60 / 60)

if hours > 4   and   (high >= 1   or   barstate.islast)
    label.new(bar_index, na, str.tostring(hours) + "\nhours", yloc = yloc.abovebar, textcolor = color.white)    

Here's what it looks like:

Question

Is this the recommended approach for a script like this?

Or is there a more idiomatic approach?

Also, if there's already scripts out there that do something similar to this, references to those are welcome.