the /ignore feature also exists, if you want to keep all-chat on in general, but then you end up only hearing half the conversation (if people reply to the person you /ignore'd)
whenever i turn on Team Chat Only, i add something to my name to indicate that i have chat off, to be helpful to anyone who might be trying to address me, but i haven't figured out the most brief but explicit way to express "i have Team Chat Only turned on" in my name. I wish there was an established convention, some abbreviation that people generally recognized.
i go with "nochat" but that doesn't make it clear that i still have team chat on
i also tend to change my name in general, creating anonymity. It's kinda fun to change my name to entirely just be "i have chat turned off," such that I have absolutely no tangible identity (because I replaced my name with a simple statement of fact) AND can't be addressed or interacted with except through gameplay. It's very "pure"
chat, as a medium of communication, is pretty shitty anyway for communicating actual human expressions...