JavaScript Status Text Scroll Code Library

<SCRIPT language=JavaScript>
    var hellotext="Scrolling text!"
    var thetext=""
    var started=false
    var step=0
    var times=1

    function welcometext()
    {
      times--
      if (times==0)
      {
        if (started==false)
        {
          started = true;
          window.status = hellotext;
          setTimeout("anim()",1);
        }
        thetext = hellotext;
      }
    }

    function showstatustext(txt)
    {
      thetext = txt;
      setTimeout("welcometext()",4000)
      times++
    }

    function anim()
    {
      step++
      if (step==7) {step=1}
      if (step==1) {window.status='>==='+thetext+'===<'}
      if (step==2) {window.status='=>=='+thetext+'==<='}
      if (step==3) {window.status='>=>='+thetext+'=<=<'}
      if (step==4) {window.status='=>=>'+thetext+'<=<='}
      if (step==5) {window.status='==>='+thetext+'=<=='}
      if (step==6) {window.status='===>'+thetext+'<==='}
      setTimeout("anim()",200);
    }
</SCRIPT>
<BODY bgColor=#ffffff onload=welcometext()>