Is this a real theory?

Dear Reddit, I remember at one point in grade school, we learned about something called the watchmaker analogy (this was in history class). It was an American Revolution-era philosophy. However, being the cool, know-it-all type, I didn't really pay attention. I remember it going something like this: If there was a god, he was sort of like a watchmaker. He created the universe, crafting the fine details--like the laws of physics that govern it and such--and then simply let it tick away, watching his creation work on its own. I figured it was an analogy to explain the coexistence of a creator with evolution and science and such. This, however, explains a very different analogy. Is what I had in mind a real thing? Or just retarded?

Sincerely, Satanlovescandy