A selective locking apparatus for an indicating tool, the selective locking apparatus includes a mandrel having a rotational collet finger receiving area including a plurality of unlocked-position tracks alternatingly arranged with a plurality of locked-position detents. A rotational collet rotatably supported on the mandrel, the rotational collet including a j-track on an outer periphery of the rotational collet, the rotational collet further including a plurality of rotational collet fingers having heads engageable within the rotational collet finger receiving area of the mandrel. An indicating collet supported on the mandrel, the indicating collet including a plurality of indicating collet fingers; and, at least one pin fixedly mounted on the indicating collet for receipt within the j-track of the rotational collet; wherein longitudinal movement of the mandrel with respect to the indicating collet cycles the rotational collet via j-track interaction and selectively places the heads of the rotational collet fingers into either the plurality of unlocked-position tracks or the plurality of locked-position detents. A method of selectively locking an indicating tool.