Yes , some websites refer to it as flood and drain.
I'm going to modify it a bit when I get a chance, mainly for the tomato plants.
I found that my 3" horizontal pipes are too small for tomatoes. The root system on the plants gets pretty big and restricts the flow causing the lower loop to drain slow. I don't have a problem with them on the vertical risers because the root system hangs down the pipe.
My plan is to tee into the lowest return line and install either a 6" bypass loop or a tray.
Paulie