The Mathematics of Putting TextBox Nicely on a Graph

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I have a line graph, Given some certain points on the graph, I wish to add some explanation on them, such as this:

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Is there any mathematical algorithm that allows me to overlay my explanation textbox "nicely" on the graphs, avoiding self overlapping as far as possible?

I understand that "nicely" is quite a subjective term, but all I want is that those text fields must be laid out as evenly as possible.

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