Here's a simple and sturdy dial indicator mount that I made for my lathe.
Here it is configured to measure along the traverse axis on my Quick Change toolpost. The indicator stem is pointing across the lathe turning axis.
And here it is with the indicator spun 180º for measuring along the longitudinal axis and installed onto the other tool mount point. The indicator stem is pointing towards the chuck.
Easily made from some 3/4" 6061 stock. Quick to deploy and quick to take measurements without using up a QC tool holder. The screw is adjusted to clamp onto the barrel of the indicator but still allow it to be rotated without sliding in the bore. Bob's yer uncle.
Next is to make one that goes onto my ways for measuring carriage travel but I'm waiting for a toggle clamp to come in for that. I'll probably buy a 2" travel dial indicator for that.
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