Statistical Option Trade Signal

Key Components:
RSI and Moving Averages:
This script uses RSI and a simple moving average (SMA) to generate bullish and bearish signals.

When RSI is oversold (below 30), and the price is above the 50-period moving average, it suggests a bullish signal (buy calls).

When RSI is overbought (above 70), and the price is below the moving average, it suggests a bearish signal (buy puts).

Signal Generation:
Signals are displayed on the chart as labels ("Buy Call" or "Buy Put").

Visual Indicators:
Background colors change based on the signals to indicate bullish or bearish sentiment.

How to Use This:
Technical Setup: This script is primarily focused on providing a technical signal for when to buy a call (bullish) or a put (bearish) based on price action and RSI.

Option Strategy: This script does not calculate options pricing directly but gives the direction in which you should consider placing an option trade.