This is a 1″ travel dial indicator mounted on a magnetic block. I use it anywhere in the shop where I need to make precise adjustments. Here it is on the back side of my table saw fence.
The indicator is inexpensive and you can buy digital ones for even less. However, these magnetic blocks have gotten expensive. But it would be an easy job to make one from aluminum or even a hardwood like maple or cherry. Simply glue 1 or 2 rare earth magnets into counterbores in the bottom of a block and mount the indicator. With this setup you can make adjustments in 0.001″ increments.
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