Yes, you're right. Different but similar.
The Trend/Cycle heatmap is similar in concept to the Hurst Coefficient with the added advantage that it shows uptrends and downtrends. This indicator measures the strength of the trend across the lookback period compared to the cycle amplitude within that same period. Uptrends are shown in green, downtrends are shown in red, and blue denotes the cycle amplitude is stronger than the trend. This indicator varies with the length of the lookback period. In the display, a horizontal slice through the heatmap denotes the relative trend and cycle amplitudes at a fixed lookback period. A vertical slice through the heatmap shows the relative amplitudes over a range of lookback periods for the particular selected price bar.