BTC Monthly Positive and Negative Averages

//@version=5
indicator("Monthly Positive and Negative Averages with Monthly Open Line", overlay=true)
//==x77x My Other Indicators @ https://pastebin.com/u/SavingFace

// Function to get the month abbreviation
f_get_month_name(month_num) =>
    month_name = switch month_num
        1 => "Jan"
        2 => "Feb"
        3 => "Mar"
        4 => "Apr"
        5 => "May"
        6 => "Jun"
        7 => "Jul"
        8 => "Aug"
        9 => "Sep"
        10 => "Oct"
        11 => "Nov"
        12 => "Dec"
        => "Unknown"

// Define average positive and negative returns for each month
month_avg_positive = switch month(time)
    1 => 39.63   // January
    2 => 22.75   // February
    3 => 42.47   // March
    4 => 27.84   // April
    5 => 30.65   // May
    6 => 15.61   // June
    7 => 14.83   // July
    8 => 28.09   // August
    9 => 4.90    // September
    10 => 27.48  // October
    11 => 23.79  // November
    12 => 38.89  // December
    => na        // Default

month_avg_negative = switch month(time)
    1 => -16.68  // January
    2 => -19.82  // February
    3 => -15.63  // March
    4 => -7.82   // April
    5 => -14.77  // May
    6 => -16.31  // June
    7 => -6.99   // July
    8 => -11.42  // August
    9 => -8.10   // September
    10 => -8.39  // October
    11 => -19.30 // November
    12 => -15.11 // December
    => na        // Default

// Capture the open price on the first bar of each month
var float monthly_open_price = na
var float avg_positive_level = na
var float avg_negative_level = na

var line monthly_open_line = na
var line avg_positive_line = na
var line avg_negative_line = na
var label monthly_open_label = na
var label avg_positive_label = na
var label avg_negative_label = na

// Delete labels only at the start of a new month
if (ta.change(month(time)))
    monthly_open_price := open
    avg_positive_level := monthly_open_price * (1 + month_avg_positive / 100)
    avg_negative_level := monthly_open_price * (1 + month_avg_negative / 100)

    // Delete the previous month's lines and labels when a new month starts
    line.delete(monthly_open_line)
    line.delete(avg_positive_line)
    line.delete(avg_negative_line)
    label.delete(monthly_open_label)
    label.delete(avg_positive_label)
    label.delete(avg_negative_label)

    // Create new lines for the monthly open, average positive, and average negative levels
    monthly_open_line := line.new(x1=bar_index, y1=monthly_open_price, x2=bar_index + 1, y2=monthly_open_price, color=#ffebba, width=1)
    avg_positive_line := line.new(x1=bar_index, y1=avg_positive_level, x2=bar_index + 1, y2=avg_positive_level, color=#5d606b, width=2)
    avg_negative_line := line.new(x1=bar_index, y1=avg_negative_level, x2=bar_index + 1, y2=avg_negative_level, color=#b13e00, width=2)

    // Create labels for the lines at the start of the line
    monthly_open_label := label.new(x=bar_index, y=monthly_open_price, text="Monthly Open\n" + str.tostring((close - monthly_open_price) / monthly_open_price * 100, "#.##") + "%", style=label.style_label_right, color=#ffebba, textcolor=#252525)
    avg_positive_label := label.new(x=bar_index, y=avg_positive_level, text=f_get_month_name(month(time)) + " +Avg: " + str.tostring(month_avg_positive, "#.##") + "%", style=label.style_label_right, color=#5d606b, textcolor=color.white)
    avg_negative_label := label.new(x=bar_index, y=avg_negative_level, text=f_get_month_name(month(time)) + " -Avg: " + str.tostring(month_avg_negative, "#.##") + "%", style=label.style_label_right, color=#b13e00, textcolor=color.white)

// Extend the existing lines to the current bar for the current month
if (not na(monthly_open_price))
    line.set_xy2(monthly_open_line, bar_index, monthly_open_price)
if (not na(avg_positive_level))
    line.set_xy2(avg_positive_line, bar_index, avg_positive_level)
if (not na(avg_negative_level))
    line.set_xy2(avg_negative_line, bar_index, avg_negative_level)

// Update the labels with the current percentage change and ensure they stay positioned correctly
label.set_text(monthly_open_label, "Monthly Open\n" + str.tostring((close - monthly_open_price) / monthly_open_price * 100, "#.##") + "%")
label.set_text(avg_positive_label, f_get_month_name(month(time)) + " +Avg: " + str.tostring(month_avg_positive, "#.##") + "%")
label.set_text(avg_negative_label, f_get_month_name(month(time)) + " -Avg: " + str.tostring(month_avg_negative, "#.##") + "%")