In plain english "Set dataseries to the Highest High of the last 5 bars, as of this current bar, minus the Lowest Low of the last 5 bars, as of this current bar"
MAX() means highest value.
MAX(High, period) means MAX High (High as in OHLC, open high low close), period meaning 5 bars,  meaning current bar. MAX(High, period) would mean as of 1 bar ago for example. MAX(High) in trading means "Highest High". But you could also do MAX(Open, period) for example to mean highest Open.
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