Disclaimer: This is not financial advice. For educational purposes only.
You can adjust the BEAM parameters by clicking on its cog icon. There you can adjust the cycle length, the asset divisor as well as buy and sell thresholds. For non-crypto assets you can deactivate the Halving check box, which makes the halving lines and the hodl zones disappear.
There are three types of zones. A green buy zone indicates that it would be wise to buy. A red sell zone makes clear that selling might be a good idea. A gray hodl zone signals that it is advisable to keep on holding even if the price already seems rather high. At the start of the hodl zone there is usually also a new buying opportunity. The hodl zone runs 8 months before and after each Bitcoin halving, so it is only useful for cryto currencies.
BEAM works with other crypto currencies that are at least 3-4 years old, because they are highly correlated with Bitcoin itself and follow Bitcoin’s cycle. The future will show if BEAM also works fine with crypto currencies from 2017 and later. At the moment they linger near or below a BEAM value of zero throughout the chart.
When applying BEAM to Ethereum, XRP, Litecoin or other crypto assets it is not necessary to change any parameter. BEAM also works very well with Gold and Silver, provided that the cycle length is adjusted to 4000 days and the asset divisor to 1 or 1.25. BEAM is not suited for stock indices like the Dow Jones or S&P 500.
The BEAM indicator is not meant to be used to make buy or sell decisions on its own. It should be used as one tool among many in a big arsenal of indicators and other types of signals. BEAM has no absolute predicting power. There is no 100% guarantee that it will still work in future. Indicators and models can only be constructed retroactive. As the future is not fixed, they always fail to work after some time.
The only thing that would invalidate it in the future would be the absence of manic final bull runs as we have seen at least three times in Bitcoin's ten year history. If such a fundamental change should occur in Bitcoin or another market, BEAM's AssetDivisor parameter would have to be adjusted.