How good is Autamated trading system in Trading the Markets?

Automated trading system is a method that generates buy and sell signals based on mathematical calculation to trade the markets without any manual interpretation. The Mathematical calculation could be any formulae like RSI, ROC, Stochastic and etc.
Based on any single indicator or multiple indicators, the system generates buy and sell signals in Intraday, Short term and Long term. A trader by himself, without studying the technicals of the stock, can do buy and sell based on these signals. A manual study of these technicals is a cumbersome process. A trader no needs to experience this hardship to trade in the markets when he uses this Automated trading system.
Will this automated trading system really help a trader in buying and selling in the Markets? The Answer is simply no. Because, the first thing is, the market movements cannot be gauged in mathematical formulas. The market movements are random and it cannot come into the gambit of formulas.
Even if there is one, the discovery of that formula would have been already discounted by the Market. Unless you study the markets manually and understand the nuances by yourself, no one can make profit out of the markets.