A simple magnetic base for a cheap dial indicator I got from Princess Auto for precise fence adjustment on a table saw.

https://www.princessauto.com/en/dial-indicator/product/PA0002970986

I use 2 magnets from Amazon.

https://www.amazon.ca/gp/product/B07KBWJ7BF/ref=ppx_yo_dt_b_asin_title_o02_s02?ie=UTF8&psc=1

The dial indicator screw is 10-24 1.5". 1.25" would work too.

Number 6 0.5" counter sunk wood screws to hold the magnets.

As will anything I create it's a wip. I've included the skp file for your customization.