A long time ago, I was taught to check rotor head alignment on Bell Kiowa helicopters using a set of vee blocks and a rifle scope.
The scope was to be checked that it was centred by rotating it on a vee block fixture while sighting through it, at a target in the distance. By watching the crosshair either stay on the target, or hula hoop around it, you could adjust the scope until it was perfectly centred.
Seems to me, pretty much anything that vaguely resembled a vee notch could be used, centering first one axis, then the other. Once catered, then adjust the elevation to take into account the required elevation adjustments, no?