Indicators vs. Raw Price Action: Still a debate?

It's always struck me as odd that the 'indicators vs. price action' debate persists as strongly as it does. For most of us actively trading, especially intraday, indicators are just lagging reflections of what price has already done. They smooth data, sure, but in doing so, they often obscure the immediate supply and demand dynamics that are actually moving the market. You look at the $USDX bouncing around 25.49 today, trying to decide its next move. Are you really waiting for an MACD crossover or are you watching how it reacts to prior highs/lows, volume, and order flow? I've found focusing on structure, support/resistance, and candlestick patterns to be far more actionable than any Stochastic or RSI ever was. Am I missing something fundamental here, or are folks just over-complicating what should be a relatively direct read of market sentiment?