I agree. At the very least he needs to take the guts out of a hydraulic lifter and use a pushrod in it to degree the cam. Or a solid lifter.
If the OP doesn’t have a hydraulic lifter to gut, he can PM me and I’ll send him one and a pushrod so he will have it if he needs it.
I liked the thought George had......but the exception I would add would be to make the dowel about 3" long, then drill a hole in the center the same size as the indicator end about 1" deep. That would keep the indicator straight. But if he doesn't have a drill press, forget it, because it needs to be perfectly straight with the center of the dowel or it's no good.