In this paper, we considered the representation power of local overlapping histograms for discrete binary signals. We give an algorithm that is linear in signal size and factorial in window size for producing the set of signals, which share a sequence of densely overlapping histograms, and we state the values for the sizes of the number of unique signals for a given set of histograms, as well as give bounds on the number of metameric classes, where a metameric class is a set of signals larger than one, which has the same set of densely overlapping histograms.