Here are some pictures of setting up and checking the position of the TDC slide. As you can see the head is off - pistons and crank are installed - upper half of the rear crankshaft seal and the front crankshaft seal are in position.
Dial test indicator DTI is used to see when #1 piston reaches end of travel (needle stops moving and starts to head back the way it just came).
There is no adjustment on the pointer bit - just fit it in place - but you can just about see from the picture that there is a hair's breadth of a difference between the zero degree mark on the crankshaft weight and the end of the pointer. Worth remembering!