The Highway Code is not Law, merely a (good) guide.
You don't need to indicate AT ALL when no-one is around !!
That doesn't make your statement about not indicating because you're not changing direction any more correct though. If you're driving as per the guidance of the Highway Code, regardless of which exit you take at a roundabout you should have indicated at some point.
If we all just ignored everything in there that isn't a 'MUST NOT' type instruction, it would be utter chaos
