I think there is a use for indicators on bikes - motorists are used to seeing such things on motorised bicycles so I think they'd understand them.
There are times I find myself unable to indicate by hand because I'm having to use that hand to brake and I must admit I don't like turning without indicating, and there is also the fact my new gloves don't have any reflective material on them so if it's dark I doubt anyone would notice me indicating.
But I'm afraid I do think both of the OP's suggested solutions look pretty dreadful!
Are those iron on strips able to be applied to my Aldi cycling gloves? They say it takes a medium/high heat for 12 seconds to make them adhere so I was wondering if they are safe to use on the fabric that the gloves are made of?